Short Interest in DT Midstream, Inc. (NYSE:DTM) Increases By 7.9%

DT Midstream, Inc. (NYSE:DTM) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,190,000 shares, an increase of 7.9% from the October 15th total of 2,030,000 shares. Based on an average daily trading volume, of 604,500 shares, the days-to-cover ratio is presently 3.6 days. Approximately 2.3% of the shares of the stock are short sold.

DT Midstream Price Performance

DT Midstream stock opened at $101.96 on Tuesday. The firm has a market capitalization of $9.91 billion, a P/E ratio of 24.81 and a beta of 0.71. DT Midstream has a 1 year low of $51.17 and a 1 year high of $102.81. The business has a 50-day moving average of $85.94 and a 200-day moving average of $76.20. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, equities analysts anticipate that DT Midstream will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.88%. DT Midstream’s payout ratio is currently 71.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DTM. Citigroup raised their target price on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley boosted their price objective on 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 objective on 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 objective on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus cut DT Midstream from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $80.44.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. grew its position in shares of DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares during the period. Family Firm Inc. acquired a new position in shares of DT Midstream in the 2nd quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new position in shares of DT Midstream in the 3rd quarter valued at approximately $29,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream in the 2nd quarter valued at approximately $31,000. Finally, American National Bank grew its position in shares of DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after purchasing an additional 234 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.