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

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Wednesday, October 28th. Investors of record on Tuesday, December 15th will be given a dividend of $0.88 per share on Friday, January 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, December 15th.

DT Midstream has a dividend payout ratio of 73.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DT Midstream to earn $5.05 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 69.7%.

DT Midstream Trading Up 2.0%

Shares of DTM opened at $127.24 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.37 and a quick ratio of 1.37. DT Midstream has a 1 year low of $106.00 and a 1 year high of $152.88. The company has a 50 day simple moving average of $125.78 and a two-hundred day simple moving average of $134.58. The firm has a market cap of $12.98 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 1.74 and a beta of 0.72.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.03. DT Midstream had a net margin of 35.72% and a return on equity of 9.58%. The firm had revenue of $336.00 million for the quarter, compared to analysts’ expectations of $337.63 million. During the same quarter last year, the business posted $1.13 earnings per share. On average, equities analysts expect that DT Midstream will post 4.68 earnings per share for the current fiscal year.

Institutional Trading of DT Midstream

Several hedge funds have recently made changes to their positions in DTM. Hennessy Advisors Inc. grew its holdings in shares of DT Midstream by 0.5% in the third quarter. Hennessy Advisors Inc. now owns 154,280 shares of the company’s stock worth $18,432,000 after purchasing an additional 800 shares during the last quarter. Glenview Trust Co purchased a new position in DT Midstream in the 3rd quarter worth about $248,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in DT Midstream by 92.4% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,700 shares of the company’s stock worth $1,517,000 after buying an additional 6,100 shares during the period. North Dakota State Investment Board lifted its holdings in DT Midstream by 3.2% during the 3rd quarter. North Dakota State Investment Board now owns 3,115 shares of the company’s stock valued at $372,000 after buying an additional 97 shares in the last quarter. Finally, Sigma Investment Counselors Inc. lifted its holdings in DT Midstream by 38.8% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 4,586 shares of the company’s stock valued at $548,000 after buying an additional 1,283 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

About DT Midstream

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.