DT Midstream, Inc. (DTM) To Go Ex-Dividend on March 17th

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.82 per share on Tuesday, April 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74.

DT Midstream has increased its dividend payment by an average of 34.8% per year over the last three years. DT Midstream has a payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Analysts expect DT Midstream to earn $4.43 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 66.4%.

DT Midstream Stock Down 2.1 %

Shares of NYSE:DTM opened at $92.92 on Friday. DT Midstream has a fifty-two week low of $56.60 and a fifty-two week high of $114.50. The firm’s 50 day moving average price is $102.73 and its 200 day moving average price is $92.95. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 22.61 and a beta of 0.79.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DTM shares. Stifel Nicolaus decreased their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday. Barclays started coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target for the company. JPMorgan Chase & Co. increased their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Wells Fargo & Company raised their target price on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.11.

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.