DT Midstream, Inc. (DTM) To Go Ex-Dividend on March 17th

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.82 per share on Tuesday, April 15th. This represents a $3.28 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Monday, March 17th. This is a 11.6% increase from DT Midstream’s previous quarterly dividend of $0.74.

DT Midstream has raised its dividend by an average of 34.8% annually over the last three years. DT Midstream has a dividend payout ratio of 65.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect DT Midstream to earn $4.43 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 74.0%.

DT Midstream Stock Up 2.9 %

Shares of DT Midstream stock opened at $96.02 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day moving average of $100.78 and a 200 day moving average of $94.27. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 23.36 and a beta of 0.80. DT Midstream has a 1 year low of $57.16 and a 1 year high of $114.50.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 1,170 shares of company stock valued at $103,357 in the last 90 days. 0.04% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Raymond James raised their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Barclays assumed coverage on shares of DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $102.00.

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.