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

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, December 16th.

DT Midstream has a 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 Price Performance

DTM stock opened at $90.94 on Thursday. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 22.13 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. DT Midstream has a 12-month low of $51.17 and a 12-month high of $91.50. The company’s fifty day simple moving average is $80.83 and its 200 day simple moving average is $73.07.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, analysts expect that DT Midstream will post 3.99 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup upped their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley increased their price target on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Barclays increased their target price on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Finally, Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price target for the company from $78.00 to $89.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average target price 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.