DT Midstream (NYSE:DTM) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

DT Midstream (NYSE:DTM) announced its earnings results on Tuesday. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05), Briefing.com reports. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period in the prior year, the business earned $0.94 earnings per share.

DT Midstream Stock Up 2.4 %

DTM stock traded up $2.17 during mid-day trading on Wednesday, reaching $91.47. 335,451 shares of the company traded hands, compared to its average volume of 637,784. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 22.23 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. DT Midstream has a fifty-two week low of $51.17 and a fifty-two week high of $91.50. The firm’s 50 day moving average price is $80.52 and its 200 day moving average price is $72.95.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.21%. DT Midstream’s dividend payout ratio (DPR) is currently 71.53%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DTM. Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and raised their target price for the stock from $78.00 to $89.00 in a research report on Wednesday. Wells Fargo & Company lifted their price objective on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Citigroup lifted their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus target price of $78.75.

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.