DT Midstream, Inc. (NYSE:DTM) Shares Will Pay Quarterly Dividend of $0.88

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.88 per share on Friday, January 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, December 15th.

DT Midstream has a dividend payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DT Midstream to earn $4.81 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 73.2%.

DT Midstream Stock Performance

NYSE DTM traded up $2.44 on Thursday, hitting $127.24. The stock had a trading volume of 1,537,600 shares, compared to its average volume of 841,655. DT Midstream has a one year low of $106.00 and a one year high of $152.88. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.68. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 3.47 and a beta of 0.72. The company’s 50-day moving average is $125.89 and its two-hundred day moving average is $134.54.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. DT Midstream had a return on equity of 9.58% and a net margin of 35.72%. The company had revenue of $336.00 million for the quarter, compared to analyst estimates of $337.63 million. During the same period last year, the company earned $1.13 earnings per share. On average, analysts expect that DT Midstream will post 4.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DTM. Glenmede Trust Co. NA raised its position in shares of DT Midstream by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 24,685 shares of the company’s stock valued at $3,324,000 after purchasing an additional 89 shares during the period. North Dakota State Investment Board boosted its holdings in shares of DT Midstream by 3.2% during the 3rd quarter. North Dakota State Investment Board now owns 3,115 shares of the company’s stock worth $372,000 after buying an additional 97 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of DT Midstream by 1.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 10,375 shares of the company’s stock worth $1,313,000 after buying an additional 98 shares during the period. Root Financial Partners LLC grew its stake in DT Midstream by 30.9% in the 1st quarter. Root Financial Partners LLC now owns 432 shares of the company’s stock valued at $58,000 after buying an additional 102 shares during the last quarter. Finally, Center for Financial Planning Inc. grew its stake in DT Midstream by 4.4% in the 3rd quarter. Center for Financial Planning Inc. now owns 2,497 shares of the company’s stock valued at $298,000 after buying an additional 106 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Company Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.