DT Midstream, Inc. to Issue Quarterly Dividend of $0.74 (NYSE:DTM)

DT Midstream, Inc. (NYSE:DTM - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Investors of record on Monday, June 17th will be given a dividend of 0.735 per share on Monday, July 15th. This represents a $2.94 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Monday, June 17th.

DT Midstream has a payout ratio of 63.6% meaning its dividend is sufficiently covered by earnings. Analysts expect DT Midstream to earn $4.40 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 62.7%.

DT Midstream Stock Down 0.9 %

NYSE:DTM traded down $0.56 during midday trading on Wednesday, reaching $61.64. The company had a trading volume of 827,247 shares, compared to its average volume of 693,748. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 15.60 and a beta of 0.73. The stock's fifty day simple moving average is $60.35 and its 200-day simple moving average is $56.70. DT Midstream has a 12-month low of $45.10 and a 12-month high of $64.69. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period last year, the business posted $0.84 earnings per share. On average, sell-side analysts anticipate that DT Midstream will post 3.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DTM shares. Wolfe Research raised DT Midstream from an "underperform" rating to a "peer perform" rating in a report on Tuesday, February 20th. Barclays lifted their price target on DT Midstream from $59.00 to $66.00 and gave the stock an "overweight" rating in a report on Friday, April 5th. US Capital Advisors downgraded DT Midstream from an "overweight" rating to a "hold" rating in a report on Monday. Mizuho lifted their price target on DT Midstream from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Stifel Nicolaus lifted their price target on DT Midstream from $62.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus price target of $61.50.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business's stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now owns 37,289 shares of the company's stock, valued at $2,120,625.43. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.21% of the company's stock.

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.