DT Midstream, Inc. (DTM) To Go Ex-Dividend on March 16th

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Thursday, February 19th. Stockholders of record on Monday, March 16th will be paid a dividend of 0.88 per share on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. This is a 7.3% increase from DT Midstream’s previous quarterly dividend of $0.82.

DT Midstream has a payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 2.7%

Shares of DT Midstream stock opened at $135.96 on Friday. DT Midstream has a 1 year low of $83.30 and a 1 year high of $136.52. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day moving average price of $123.33 and a 200 day moving average price of $114.80. The company has a market capitalization of $13.82 billion, a P/E ratio of 31.55, a P/E/G ratio of 2.36 and a beta of 0.77.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). DT Midstream had a net margin of 35.48% and a return on equity of 9.16%. The company had revenue of $317.00 million for the quarter, compared to analyst estimates of $320.07 million. During the same quarter last year, the company posted $0.94 EPS. Sell-side analysts anticipate that DT Midstream will post 3.8 EPS for the current fiscal year.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of DT Midstream by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 11,351,778 shares of the company’s stock valued at $1,247,674,000 after purchasing an additional 176,813 shares during the last quarter. Deutsche Bank AG raised its position in shares of DT Midstream by 6.9% in the 4th quarter. Deutsche Bank AG now owns 3,090,365 shares of the company’s stock worth $369,855,000 after buying an additional 200,114 shares during the period. 59 North Capital Management LP raised its position in shares of DT Midstream by 49.0% in the 3rd quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company’s stock worth $347,556,000 after buying an additional 1,010,965 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in DT Midstream by 10.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,980,945 shares of the company’s stock valued at $356,759,000 after acquiring an additional 285,770 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in DT Midstream by 3.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company’s stock valued at $301,695,000 after acquiring an additional 99,602 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.