Short Interest in DT Midstream, Inc. (NYSE:DTM) Increases By 30.6%

DT Midstream, Inc. (NYSE:DTM) was the target of a significant increase in short interest during 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.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of DT Midstream by 16.0% during the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $73,000 after purchasing an additional 142 shares during the last quarter. Caprock Group LLC grew its stake in shares of DT Midstream by 3.7% during the third quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock valued at $322,000 after buying an additional 143 shares during the last quarter. TFG Advisers LLC increased its holdings in shares of DT Midstream by 3.1% in the third quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock worth $454,000 after buying an additional 172 shares during the period. Princeton Global Asset Management LLC increased its holdings in shares of DT Midstream by 8.6% in the third quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock worth $199,000 after buying an additional 200 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of DT Midstream by 1.1% in the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after acquiring an additional 201 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DTM. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and upped their price target for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. The Goldman Sachs Group increased their price target on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. 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 note on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $84.78.

DT Midstream Trading Up 0.3 %

Shares of DTM opened at $106.12 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream has a 1-year low of $51.17 and a 1-year high of $109.85. The company has a market capitalization of $10.31 billion, a P/E ratio of 25.82 and a beta of 0.71. The firm’s 50 day simple moving average is $91.23 and its 200 day simple moving average is $78.72.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share 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 firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. During the same quarter in the previous year, the business earned $0.94 EPS. Sell-side analysts forecast that DT Midstream will post 3.85 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced 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 2.77%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

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.