DT Midstream, Inc. (DTM) To Go Ex-Dividend on December 15th

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Wednesday, October 28th. Investors of record on Tuesday, December 15th will be given a dividend of $0.88 per share on Friday, January 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, December 15th.

DT Midstream has a dividend payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect DT Midstream to earn $5.05 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 69.7%.

DT Midstream Trading Up 2.0%

Shares of DT Midstream stock opened at $127.24 on Friday. DT Midstream has a 12-month low of $106.00 and a 12-month high of $152.88. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.74 and a beta of 0.72. The firm’s 50-day moving average price is $125.78 and its two-hundred day moving average price is $134.58.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.03. DT Midstream had a return on equity of 9.58% and a net margin of 35.72%. The firm had revenue of $336.00 million for the quarter, compared to analyst estimates of $337.63 million. During the same period in the previous year, the firm earned $1.13 earnings per share. On average, analysts forecast that DT Midstream will post 4.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DTM has been the topic of a number of analyst reports. Bank of America reiterated a “buy” rating on shares of DT Midstream in a research report on Monday. The Goldman Sachs Group reissued a “sell” rating and issued a $121.00 price objective on shares of DT Midstream in a research note on Wednesday, October 14th. Jefferies Financial Group reissued a “buy” rating and set a $150.00 price objective on shares of DT Midstream in a research note on Thursday, October 15th. JPMorgan Chase & Co. increased their target price on shares of DT Midstream from $146.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, Morgan Stanley dropped their target price on DT Midstream from $170.00 to $164.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.36.

About DT Midstream

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.