DT Midstream (NYSE:DTM) Issues Quarterly Earnings Results

DT Midstream (NYSE:DTM - Get Free Report) released its earnings results on Tuesday. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05), Briefing.com reports. The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period in the prior year, the business earned $0.94 earnings per share.

DT Midstream Trading Up 1.8 %

Shares of NYSE:DTM traded up $1.64 during midday trading on Wednesday, reaching $90.94. The company's stock had a trading volume of 1,080,804 shares, compared to its average volume of 641,333. DT Midstream has a fifty-two week low of $51.17 and a fifty-two week high of $91.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50 day moving average price of $80.83 and a two-hundred day moving average price of $73.07. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 22.13 and a beta of 0.74.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.23%. DT Midstream's payout ratio is currently 71.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a report on Friday, October 4th. Citigroup boosted their target price on DT Midstream from $62.00 to $76.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 4th. Stifel Nicolaus cut shares of DT Midstream from a "buy" rating to a "hold" rating and boosted their target price for the stock from $78.00 to $89.00 in a research note on Wednesday. Morgan Stanley upped their price objective on DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised their price target on shares of DT Midstream from $77.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.