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

DT Midstream, Inc. (NYSE:DTM) declared 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 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Monday, June 17th.

DT Midstream has a dividend payout ratio of 67.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DT Midstream to earn $4.38 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 67.1%.

DT Midstream Stock Down 1.1 %

NYSE:DTM opened at $68.06 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $65.19 and its two-hundred day moving average is $59.19. DT Midstream has a 52 week low of $46.36 and a 52 week high of $69.90. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 16.60 and a beta of 0.73.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. The business had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. Research analysts anticipate that DT Midstream will post 3.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DTM. Wells Fargo & Company raised DT Midstream from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $62.00 to $77.00 in a research report on Tuesday, June 4th. Stifel Nicolaus upped 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, May 1st. US Capital Advisors lowered DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Finally, Mizuho increased their target price on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.71.

Insiders Place Their Bets

In other news, CFO Jeffrey A. Jewell acquired 400 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $62.80 per share, with a total value of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

DT Midstream Company Profile

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.