DT Midstream, Inc. (NYSE:DTM) Announces $0.74 Quarterly Dividend

DT Midstream, Inc. (NYSE:DTM - Get Free Report) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Monday, December 16th will be paid a dividend of 0.735 per share on Wednesday, January 15th. This represents a $2.94 annualized dividend and a yield of 3.23%. The ex-dividend date is Monday, December 16th.

DT Midstream has a dividend payout ratio of 67.7% meaning its dividend is sufficiently covered by earnings. Analysts expect DT Midstream to earn $4.28 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 68.7%.

DT Midstream Trading Up 1.8 %

Shares of NYSE DTM traded up $1.63 during trading on Wednesday, hitting $90.93. 1,080,804 shares of the company traded hands, compared to its average volume of 641,333. The firm has a market capitalization of $8.83 billion, a P/E ratio of 22.23 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $80.52 and a 200-day moving average price of $72.95. DT Midstream has a 1 year low of $51.17 and a 1 year high of $91.50.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million during the quarter, compared to analysts' expectations of $242.64 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter last year, the business earned $0.94 earnings per share. On average, equities analysts predict that DT Midstream will post 3.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DTM shares. Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Wells Fargo & Company upped their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Barclays raised their price objective on DT Midstream from $76.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research report on Friday, October 4th. Finally, Citigroup raised their target price on DT Midstream from $62.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $78.75.

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.