DT Midstream, Inc. (NYSE:DTM) Plans Dividend Increase – $0.88 Per Share

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Thursday, February 19th. Investors of record on Monday, March 16th will be paid a dividend of 0.88 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. This is a 7.3% increase from DT Midstream’s previous quarterly dividend of $0.82.

DT Midstream has a dividend payout ratio of 68.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DT Midstream to earn $4.43 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 74.0%.

DT Midstream Price Performance

Shares of NYSE DTM traded up $0.82 during midday trading on Friday, reaching $133.15. 264,994 shares of the company traded hands, compared to its average volume of 740,169. DT Midstream has a 12 month low of $83.30 and a 12 month high of $134.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50-day simple moving average is $123.03 and its 200-day simple moving average is $114.59. The firm has a market cap of $13.54 billion, a PE ratio of 33.62, a PEG ratio of 2.38 and a beta of 0.77.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $317.00 million for the quarter, compared to analyst estimates of $320.07 million. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.During the same quarter last year, the business earned $0.94 EPS. As a group, equities analysts anticipate that DT Midstream will post 3.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

DTM has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $148.00 price target on DT Midstream and gave the company a “buy” rating in a report on Friday. Barclays raised their target price on DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. UBS Group upped their price target on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $118.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Finally, Bank of America boosted their target price on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $130.82.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.