DT Midstream, Inc. (NYSE:DTM) Short Interest Up 39.1% in January

DT Midstream, Inc. (NYSE:DTM) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 3,950,000 shares, a growth of 39.1% from the December 31st total of 2,840,000 shares. Based on an average trading volume of 864,500 shares, the days-to-cover ratio is presently 4.6 days. Currently, 3.9% of the shares of the stock are sold short.

DT Midstream Trading Down 1.3 %

NYSE:DTM opened at $101.29 on Friday. The stock has a fifty day moving average price of $103.58 and a 200 day moving average price of $89.51. 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 has a 12-month low of $51.17 and a 12-month high of $114.50. The firm has a market cap of $9.84 billion, a PE ratio of 24.64 and a beta of 0.79.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the prior year, the company posted $0.94 earnings per share. Sell-side analysts anticipate that DT Midstream will post 3.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DT Midstream

Several hedge funds have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. increased its position in shares of DT Midstream by 56.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 6,923 shares of the company’s stock worth $690,000 after purchasing an additional 2,493 shares in the last quarter. Venturi Wealth Management LLC grew its stake in DT Midstream by 310.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,039 shares of the company’s stock worth $103,000 after buying an additional 786 shares during the last quarter. Truist Financial Corp acquired a new position in DT Midstream during the fourth quarter worth approximately $771,000. CIBC Asset Management Inc lifted its stake in DT Midstream by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,103 shares of the company’s stock valued at $309,000 after buying an additional 163 shares during the last quarter. Finally, Valmark Advisers Inc. acquired a new stake in shares of DT Midstream in the fourth quarter valued at approximately $235,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on DTM. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. 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 research report on Friday, October 25th. The Goldman Sachs Group increased their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Raymond James boosted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Barclays began coverage on DT Midstream in a report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.56.

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.