DT Midstream, Inc. (NYSE:DTM) Plans Quarterly Dividend of $0.82

DT Midstream, Inc. (NYSE:DTM - Get Free Report) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.82 per share on Tuesday, April 15th. This represents a $3.28 annualized dividend and a yield of 3.47%. The ex-dividend date is Monday, March 17th. This is a boost from DT Midstream's previous quarterly dividend of $0.74.

DT Midstream has increased its dividend by an average of 34.8% annually over the last three years. DT Midstream has a payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Analysts expect DT Midstream to earn $4.43 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 66.4%.

DT Midstream Stock Performance

DTM stock traded down $1.57 during midday trading on Monday, hitting $94.52. The company's stock had a trading volume of 1,324,396 shares, compared to its average volume of 1,024,355. The stock's 50-day moving average price is $102.49 and its 200 day moving average price is $93.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream has a 1 year low of $57.16 and a 1 year high of $114.50. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 23.00 and a beta of 0.79.

Analysts Set New Price Targets

Several research analysts have weighed in on DTM shares. Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Barclays started coverage on DT Midstream in a research report on Friday, January 10th. They set an "equal weight" rating and a $112.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, DT Midstream currently has an average rating of "Hold" and a consensus target price of $102.00.

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About DT Midstream

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.