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

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.735 per share on Monday, July 15th. This represents a $2.94 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Monday, June 17th.

DT Midstream has a dividend payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DT Midstream to earn $4.40 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 62.7%.

DT Midstream Price Performance

NYSE:DTM opened at $61.64 on Thursday. DT Midstream has a 12 month low of $45.10 and a 12 month high of $64.69. The stock has a 50 day moving average of $60.35 and a two-hundred day moving average of $56.70. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. The firm has a market cap of $5.99 billion, a P/E ratio of 15.03 and a beta of 0.71.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.46%. During the same period in the previous year, the business earned $0.84 EPS. On average, analysts expect that DT Midstream will post 3.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. US Capital Advisors lowered DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday. Mizuho increased their price objective on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday. Stifel Nicolaus increased their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.50.

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.