DT Midstream (NYSE:DTM) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

DT Midstream (NYSE:DTM - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.04, Briefing.com reports. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The company had revenue of $240.00 million for the quarter, compared to analysts' expectations of $242.62 million. During the same quarter last year, the business earned $0.84 earnings per share.

DT Midstream Trading Down 0.9 %

Shares of DTM stock traded down $0.56 during mid-day trading on Wednesday, reaching $61.64. 827,247 shares of the stock traded hands, compared to its average volume of 693,748. The stock's fifty day simple moving average is $60.35 and its two-hundred day simple moving average is $56.70. DT Midstream has a 1-year low of $45.10 and a 1-year high of $64.69. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 15.60 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream's payout ratio is 74.43%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business's stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the purchase, the director now owns 37,289 shares of the company's stock, valued at approximately $2,120,625.43. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

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

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.