DT Midstream, Inc. (NYSE:DTM) to Issue Quarterly Dividend of $0.88

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Monday, March 16th will be paid a dividend of 0.88 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. This is a 7.3% increase from DT Midstream’s previous quarterly dividend of $0.82.

DT Midstream has a payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect DT Midstream to earn $4.43 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 74.0%.

DT Midstream Trading Up 0.6%

DTM traded up $0.82 during mid-day trading on Friday, hitting $133.15. The stock had a trading volume of 264,994 shares, compared to its average volume of 740,169. The stock’s fifty day simple moving average is $123.03 and its 200-day simple moving average is $114.59. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 2.38 and a beta of 0.77. DT Midstream has a 1-year low of $83.30 and a 1-year high of $134.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. The firm had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. During the same period last year, the firm earned $0.94 EPS. As a group, research analysts forecast that DT Midstream will post 3.8 EPS for the current fiscal year.

Institutional Investors Weigh In On DT Midstream

Several institutional investors have recently bought and sold shares of DTM. Invesco Ltd. increased its holdings in DT Midstream by 4.7% during the fourth quarter. Invesco Ltd. now owns 1,045,754 shares of the company’s stock worth $125,156,000 after buying an additional 47,030 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in DT Midstream by 16.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,802 shares of the company’s stock worth $1,891,000 after buying an additional 2,249 shares during the last quarter. Beacon Pointe Advisors LLC bought a new stake in DT Midstream in the fourth quarter valued at approximately $318,000. First Citizens Bank & Trust Co. boosted its stake in shares of DT Midstream by 2.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 14,454 shares of the company’s stock worth $1,730,000 after acquiring an additional 310 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of DT Midstream by 5.7% during the 4th quarter. NewEdge Advisors LLC now owns 13,891 shares of the company’s stock worth $1,662,000 after acquiring an additional 748 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.