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

DT Midstream (NYSE:DTM) announced its quarterly earnings data on Tuesday. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 42.10% and a return on equity of 9.45%. During the same period last year, the business posted $0.94 earnings per share.

DT Midstream Price Performance

DTM stock traded up $2.17 during mid-day trading on Wednesday, hitting $91.47. The company had a trading volume of 335,451 shares, compared to its average volume of 637,784. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 22.23 and a beta of 0.74. DT Midstream has a 12-month low of $51.17 and a 12-month high of $91.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $80.52 and a 200 day moving average price of $72.95.

DT Midstream Dividend Announcement

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 $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.21%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

Analysts Set New Price Targets

DTM has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays raised their target price on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Citigroup lifted their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Stifel Nicolaus cut DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the company from $78.00 to $89.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $78.75.

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.