DT Midstream, Inc. (NYSE:DTM) Sees Large Growth in Short Interest

DT Midstream, Inc. (NYSE:DTM) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,860,000 shares, an increase of 30.6% from the October 31st total of 2,190,000 shares. Based on an average daily volume of 722,700 shares, the days-to-cover ratio is presently 4.0 days. Currently, 2.9% of the shares of the company are sold short.

DT Midstream Trading Up 0.3 %

Shares of DT Midstream stock opened at $106.12 on Monday. The stock has a 50 day moving average of $91.23 and a 200 day moving average of $78.72. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 25.82 and a beta of 0.71. DT Midstream has a fifty-two week low of $51.17 and a fifty-two week high of $109.85.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the prior year, the business earned $0.94 EPS. As a group, research analysts predict that DT Midstream will post 3.85 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.77%. DT Midstream’s payout ratio is currently 71.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company upped their target price 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. Barclays lifted their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $84.78.

Institutional Trading of DT Midstream

Several institutional investors and hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC purchased a new position in shares of DT Midstream in the 1st quarter worth about $73,000. Price T Rowe Associates Inc. MD boosted its position in DT Midstream by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,864 shares of the company’s stock valued at $2,864,000 after buying an additional 2,997 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of DT Midstream by 1,223.2% during the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock valued at $3,306,000 after acquiring an additional 50,018 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of DT Midstream during the first quarter valued at about $216,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of DT Midstream by 282.9% during the first quarter. EverSource Wealth Advisors LLC now owns 965 shares of the company’s stock worth $60,000 after acquiring an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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.