DT Midstream, Inc. Declares 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) declared a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Shareholders of record on Monday, September 15th will be paid a dividend of 0.82 per share on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th.

DT Midstream has a payout ratio of 68.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

DTM traded down $3.95 on Tuesday, hitting $101.85. 491,246 shares of the company were exchanged, compared to its average volume of 1,021,830. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The business's fifty day moving average is $104.64 and its 200 day moving average is $100.62. DT Midstream has a fifty-two week low of $70.91 and a fifty-two week high of $114.50. The firm has a market capitalization of $10.35 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. The company had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, sell-side analysts anticipate that DT Midstream will post 3.8 EPS for the current year.

Institutional Investors Weigh In On DT Midstream

Institutional investors and hedge funds have recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in DT Midstream in the 1st quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new stake in DT Midstream in the 1st quarter valued at about $26,000. Twin Tree Management LP acquired a new stake in DT Midstream in the 1st quarter valued at about $29,000. Bessemer Group Inc. increased its stake in DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new position in DT Midstream in the 2nd quarter worth about $38,000. 81.53% of the stock is owned by institutional investors and hedge funds.

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.