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

DT Midstream, Inc. (NYSE:DTM) saw a significant increase in short interest during the month of 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 volume of 604,500 shares, the short-interest ratio is presently 3.6 days. Approximately 2.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DTM. Wells Fargo & Company increased their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup increased their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Morgan Stanley increased their price objective on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. increased 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. Finally, Barclays increased their price objective on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $80.44.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in DT Midstream by 16.0% during the second quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after acquiring an additional 142 shares in the last quarter. Caprock Group LLC raised its stake in DT Midstream by 3.7% during the third quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after acquiring an additional 143 shares in the last quarter. TFG Advisers LLC increased its stake 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 valued at $454,000 after buying an additional 172 shares in the last quarter. Princeton Global Asset Management LLC increased its stake 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 valued at $199,000 after buying an additional 200 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of DT Midstream by 1.1% in the second quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after buying an additional 201 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Up 1.2 %

Shares of DTM stock opened at $101.96 on Tuesday. The stock has a market cap of $9.91 billion, a P/E ratio of 24.81 and a beta of 0.71. DT Midstream has a one year low of $51.17 and a one year high of $102.81. The stock has a fifty day moving average price of $85.94 and a 200 day moving average price of $76.20. 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 (NYSE:DTM) last released its quarterly earnings data 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). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. Analysts predict that DT Midstream will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid 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 yield of 2.88%. 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.