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

DT Midstream (NYSE:DTM) posted its earnings results on Tuesday. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04, Briefing.com reports. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The business had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. During the same period last year, the business posted $0.84 EPS.

DT Midstream Price Performance

Shares of NYSE:DTM traded down $0.84 during midday trading on Wednesday, reaching $61.36. 339,533 shares of the company’s stock were exchanged, compared to its average volume of 687,583. The company’s 50 day simple moving average is $60.35 and its two-hundred day simple moving average is $56.70. The firm has a market capitalization of $5.96 billion, a PE ratio of 15.55 and a beta of 0.73. DT Midstream has a 12 month low of $45.10 and a 12 month high of $64.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 4.79%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, March 15th. DT Midstream’s dividend payout ratio (DPR) is currently 74.43%.

Analyst Ratings Changes

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

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $56.87 per share, with a total value of $56,870.00. Following the acquisition, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

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.