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

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Monday, March 17th. This is a boost 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 dividend payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 2.1 %

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

Analysts Set New Price Targets

Several research firms have weighed in on DTM. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Raymond James increased their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Wells Fargo & Company increased their target price on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Stifel Nicolaus reduced their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, DT Midstream has an average rating of “Hold” and an average price target of $101.11.

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.