DT Midstream, Inc. Announces Quarterly Dividend of $0.82 (NYSE:DTM)

Key Points

• DT Midstream, Inc. has declared a quarterly dividend of $0.82 per share, with an associated yield of 3.1%.
• The company has a payout ratio of 68.3%, which suggests its dividends are well-covered by earnings, with expected earnings of $4.43 per share next year.
• DT Midstream reported $1.04 EPS for the last quarter, exceeding estimates, and generated $299 million in revenue, above analyst expectations.

DT Midstream, Inc. (NYSE:DTM - Get Free Report) announced a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Investors of record on Monday, September 15th will be paid a dividend of 0.82 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th.

DT Midstream has a payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect DT Midstream to earn $4.43 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 74.0%.

DT Midstream Stock Performance

NYSE:DTM traded up $3.02 during trading hours on Friday, reaching $105.75. 1,275,524 shares of the company's stock were exchanged, compared to its average volume of 1,027,839. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 1.83 and a beta of 0.78. The company has a 50-day moving average of $104.58 and a 200 day moving average of $100.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. DT Midstream has a 1-year low of $69.82 and a 1-year high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The company had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. During the same quarter last year, the business earned $0.98 EPS. Research analysts anticipate that DT Midstream will post 3.8 EPS for the current year.

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.

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