DT Midstream, Inc. (NYSE:DTM) Short Interest Up 30.6% in November

DT Midstream, Inc. (NYSE:DTM) was the recipient of a large increase in short interest in 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. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 722,700 shares, the days-to-cover ratio is currently 4.0 days.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of recent research reports. Barclays lifted their price target on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. The Goldman Sachs Group raised their price objective on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and upped their target price for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. 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.com, DT Midstream presently has an average rating of “Hold” and an average price target of $84.78.

Institutional Investors Weigh In On DT Midstream

A number of institutional investors have recently modified their holdings of the stock. UMB Bank n.a. increased its holdings in DT Midstream by 324.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after buying an additional 240 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of DT Midstream in the 3rd quarter worth approximately $29,000. Family Firm Inc. acquired a new position in shares of DT Midstream in the 2nd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream in the 3rd quarter valued at approximately $29,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of DT Midstream during the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

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 quick ratio of 0.95 and a current ratio of 0.95. DT Midstream has a one year low of $51.17 and a one year high of $109.85. The stock has a 50-day moving average price of $91.23 and a 200 day moving average price of $78.72. The company has a market capitalization of $10.31 billion, a P/E ratio of 25.82 and a beta of 0.71.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million for 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 quarter last year, the company posted $0.94 earnings per share. Sell-side analysts forecast that DT Midstream will post 3.85 EPS for the current fiscal 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 $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, December 16th. DT Midstream’s 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.