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

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.735 per share on Tuesday, October 15th. This represents a $2.94 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Monday, September 16th.

DT Midstream has a dividend payout ratio of 67.1% meaning 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 $2.94 annual dividend with an expected future payout ratio of 66.8%.

DT Midstream Trading Up 0.9 %

Shares of NYSE:DTM opened at $75.35 on Thursday. The company has a market capitalization of $7.32 billion, a PE ratio of 18.38 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. DT Midstream has a 12-month low of $50.54 and a 12-month high of $76.35. The business’s fifty day simple moving average is $70.08 and its 200-day simple moving average is $62.98.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. DT Midstream had a return on equity of 9.49% and a net margin of 42.10%. During the same quarter in the previous year, the firm earned $0.93 earnings per share. As a group, equities research analysts predict that DT Midstream will post 3.95 earnings per share for the current fiscal year.

Insider Transactions at DT Midstream

In related news, CFO Jeffrey A. Jewell purchased 400 shares of DT Midstream stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the transaction, the chief financial officer now owns 44,285 shares in the company, valued at $2,781,098. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on DTM shares. Mizuho boosted their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. US Capital Advisors lowered DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company upped their target price on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays boosted their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Stifel Nicolaus upped their target price on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.67.

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.