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

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders 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 is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74.

DT Midstream has raised its dividend payment by an average of 34.8% per year over the last three years. DT Midstream has a payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NYSE DTM opened at $92.92 on Friday. The firm has a market cap of $9.03 billion, a P/E ratio of 22.61 and a beta of 0.79. DT Midstream has a 52-week low of $56.60 and a 52-week high of $114.50. The business’s 50-day moving average price is $102.73 and its 200 day moving average price is $92.95. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus lowered their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company lifted their price objective 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 upped 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. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Barclays assumed coverage on shares of DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, DT Midstream has an average rating of “Hold” and a consensus 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.