DT Midstream, Inc. (DTM) to Issue Quarterly Dividend of $0.74 on July 15th

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Monday, June 17th will be paid a dividend of 0.735 per share on Monday, July 15th. This represents a $2.94 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Monday, June 17th.

DT Midstream has a payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DT Midstream to earn $4.40 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 62.7%.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $61.63 on Thursday. The company’s fifty day moving average price is $60.35 and its 200 day moving average price is $56.70. DT Midstream has a 1 year low of $45.10 and a 1 year high of $64.69. The company has a market capitalization of $5.98 billion, a PE ratio of 15.03 and a beta of 0.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $240.00 million for the quarter, compared to the consensus estimate of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.45%. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, research analysts predict that DT Midstream will post 3.95 earnings per share for the current year.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $56.87 per share, with a total value of $56,870.00. Following the completion of the acquisition, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

DTM has been the subject of a number of research analyst reports. US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday. Barclays upped their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Stifel Nicolaus upped their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Finally, Mizuho increased their target price on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $61.50.

DT Midstream Company Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.