DT Midstream (NYSE:DTM) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

DT Midstream (NYSE:DTM) announced its quarterly earnings data on Tuesday. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04, Briefing.com reports. The firm had revenue of $240.00 million during the quarter, compared to the consensus estimate of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.45%. During the same quarter last year, the firm earned $0.84 earnings per share.

DT Midstream Price Performance

Shares of NYSE:DTM traded up $0.52 on Thursday, hitting $62.15. The company had a trading volume of 20,658 shares, compared to its average volume of 685,681. 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 company has a market cap of $6.04 billion, a PE ratio of 15.16 and a beta of 0.71. DT Midstream has a 52-week low of $45.10 and a 52-week high of $64.69. The business has a 50 day moving average of $60.35 and a 200 day moving average of $56.70.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream’s payout ratio is 71.71%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DTM. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Mizuho upped their price target on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” 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 stock an “overweight” rating in a report on Friday, April 5th. Stifel Nicolaus upped their price target on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, US Capital Advisors downgraded DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average target price of $61.50.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the acquisition, the director now directly owns 37,289 shares in the company, valued at approximately $2,120,625.43. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.