DT Midstream, Inc. (DTM) To Go Ex-Dividend on September 16th

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

DT Midstream has a dividend payout ratio of 68.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

Shares of NYSE DTM opened at $76.80 on Friday. The stock has a market capitalization of $7.46 billion, a P/E ratio of 18.73 and a beta of 0.74. DT Midstream has a 1-year low of $50.88 and a 1-year high of $78.83. The business’s 50 day moving average is $74.30 and its two-hundred day moving average is $67.64. 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 released its earnings results 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. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the company posted $0.93 EPS. As a group, research analysts expect that DT Midstream will post 3.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DTM shares. JPMorgan Chase & Co. raised their target price 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. Stifel Nicolaus boosted their target price on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Barclays increased their price target on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Citigroup boosted their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company increased their target price on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued 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 $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.