DT Midstream, Inc. (NYSE:DTM) to Issue Dividend Increase – $0.82 Per Share

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.82 per share on Tuesday, April 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74.

DT Midstream has increased its dividend by an average of 34.8% annually over the last three years. DT Midstream has a payout ratio of 58.2% 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 $2.94 annual dividend with an expected future payout ratio of 66.4%.

DT Midstream Price Performance

Shares of DTM stock traded down $1.99 on Thursday, reaching $92.92. 1,774,029 shares of the company were exchanged, compared to its average volume of 989,214. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 22.61 and a beta of 0.79. The business has a 50-day moving average price of $102.82 and a 200 day moving average price of $92.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream has a 1 year low of $56.60 and a 1 year high of $114.50.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Stifel Nicolaus reduced their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company increased their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Raymond James raised their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Barclays started coverage on shares of DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $101.11.

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.