DT Midstream, Inc. (NYSE:DTM) Shareholders to Receive $0.88 Quarterly Dividend

Key Points

• DT Midstream declared a quarterly dividend of $0.88 per share, payable January 15 to shareholders of record on December 15. The annualized dividend is $3.52 per share, representing a 2.8% yield.
• The dividend appears supported by earnings, with a payout ratio of approximately 73% and analysts forecasting $4.81 in earnings per share next year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $151.36, despite mixed ratings and recent target-price revisions.

DT Midstream, Inc. (NYSE:DTM - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Tuesday, December 15th will be given a dividend of $0.88 per share on Friday, January 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, December 15th.

DT Midstream has a dividend payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect DT Midstream to earn $4.81 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 73.2%.

DT Midstream Price Performance

DT Midstream stock traded up $2.44 during midday trading on Thursday, reaching $127.24. 1,537,600 shares of the company were exchanged, compared to its average volume of 841,655. The firm's 50-day simple moving average is $125.89 and its 200-day simple moving average is $134.54. DT Midstream has a 1 year low of $106.00 and a 1 year high of $152.88. The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 3.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.37 and a current ratio of 1.37.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.03. DT Midstream had a net margin of 35.72% and a return on equity of 9.58%. The company had revenue of $336.00 million for the quarter, compared to analyst estimates of $337.63 million. During the same period in the prior year, the firm earned $1.13 EPS. On average, analysts anticipate that DT Midstream will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Mizuho decreased their target price on shares of DT Midstream from $153.00 to $147.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Barclays cut their price target on DT Midstream from $143.00 to $142.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. Bank of America reissued a "buy" rating on shares of DT Midstream in a research note on Monday. JPMorgan Chase & Co. raised their price objective on DT Midstream from $146.00 to $154.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Finally, Scotiabank set a $165.00 price objective on DT Midstream in a research report on Thursday, October 15th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $151.36.

About DT Midstream

DT Midstream, Inc NYSE: DTM is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream's operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.

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