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

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.735 per share on Tuesday, October 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, September 16th.

DT Midstream has a dividend payout ratio of 68.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DT Midstream to earn $4.28 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 68.7%.

DT Midstream Trading Up 1.7 %

NYSE DTM opened at $76.80 on Friday. The company’s fifty day moving average price is $74.30 and its two-hundred day moving average price is $67.72. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 18.73 and a beta of 0.74. DT Midstream has a 12 month low of $50.88 and a 12 month high of $78.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, research analysts predict that DT Midstream will post 3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DTM shares. Stifel Nicolaus increased their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays increased their target price on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Wells Fargo & Company boosted their price target on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Citigroup boosted their target price on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $70.75.

About DT Midstream

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.