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

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

DT Midstream has a payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.9 %

Shares of DT Midstream stock opened at $61.64 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.63. DT Midstream has a 1 year low of $45.10 and a 1 year high of $64.69. The company has a market capitalization of $5.99 billion, a P/E ratio of 15.03 and a beta of 0.71. The business has a 50 day moving average price of $60.35 and a 200 day moving average price of $56.70.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.45%. During the same period in the previous year, the company earned $0.84 EPS. Sell-side analysts anticipate that DT Midstream will post 3.95 EPS for the current fiscal year.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms have commented on DTM. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Mizuho lifted their target price on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday. US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday. Barclays boosted their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus boosted their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.