DT Midstream, Inc. (DTM) to Issue Quarterly Dividend of $0.74 on January 15th

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.735 per share on Wednesday, January 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Monday, December 16th.

DT Midstream has a payout ratio of 66.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DT Midstream to earn $4.42 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 66.5%.

DT Midstream Price Performance

DTM stock opened at $100.64 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $95.53 and its 200-day moving average is $81.07. The stock has a market capitalization of $9.78 billion, a PE ratio of 24.49 and a beta of 0.77. DT Midstream has a 1 year low of $51.17 and a 1 year high of $109.85.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period last year, the business posted $0.94 EPS. Equities research analysts expect that DT Midstream will post 3.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DTM. Barclays upped their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and upped their target price for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Finally, Morgan Stanley lifted their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and an average target price of $84.78.

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.