DT Midstream, Inc. (NYSE:DTM) Short Interest Update

DT Midstream, Inc. (NYSE:DTM) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,840,000 shares, a growth of 8.0% from the November 30th total of 2,630,000 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 849,700 shares, the days-to-cover ratio is currently 3.3 days.

DT Midstream Price Performance

NYSE DTM opened at $99.43 on Thursday. The company has a market cap of $9.66 billion, a PE ratio of 24.19 and a beta of 0.77. DT Midstream has a 52 week low of $51.17 and a 52 week high of $109.85. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm’s 50-day simple moving average is $99.22 and its two-hundred day simple moving average is $84.07.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $242.64 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. Research analysts predict that DT Midstream will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is presently 71.53%.

Institutional Investors Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of DT Midstream by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after buying an additional 490,613 shares during the period. State Street Corp increased its position in shares of DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after buying an additional 202,447 shares during the period. Geode Capital Management LLC increased its position in shares of DT Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after buying an additional 85,462 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after buying an additional 267,269 shares during the period. Finally, Brookfield Corp ON increased its position in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DTM has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Barclays boosted their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and boosted their price target for the stock from $89.00 to $106.00 in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.89.

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.