DT Midstream (NYSE:DTM) Issues Earnings Results, Misses Expectations By $0.05 EPS

DT Midstream (NYSE:DTM) posted its quarterly earnings data on Tuesday. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05), Briefing.com reports. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the prior year, the company posted $0.94 earnings per share.

DT Midstream Trading Up 1.6 %

Shares of DT Midstream stock traded up $1.44 during trading hours on Wednesday, hitting $90.74. The company’s stock had a trading volume of 363,210 shares, compared to its average volume of 637,916. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 22.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. DT Midstream has a twelve month low of $51.17 and a twelve month high of $91.50. The firm has a fifty day moving average of $80.52 and a 200-day moving average of $72.95.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.24%. DT Midstream’s dividend payout ratio is currently 71.53%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DTM. Barclays upped their price target on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised 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, July 31st. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and increased their price objective for the company from $78.00 to $89.00 in a research note on Wednesday. Citigroup lifted their target price on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $78.75.

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.