DT Midstream, Inc. (NYSE:DTM) Short Interest Update

DT Midstream, Inc. (NYSE:DTM) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 2,590,000 shares, an increase of 13.6% from the May 31st total of 2,280,000 shares. Based on an average daily volume of 643,300 shares, the days-to-cover ratio is currently 4.0 days. Approximately 2.7% of the shares of the company are short sold.

Insider Activity

In other news, CFO Jeffrey A. Jewell bought 400 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $62.80 per share, with a total value of $25,120.00. Following the acquisition, the chief financial officer now directly owns 44,285 shares in the company, valued at $2,781,098. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DTM. Wetzel Investment Advisors Inc. acquired a new position in shares of DT Midstream during the 4th quarter valued at about $25,000. HHM Wealth Advisors LLC acquired a new position in shares of DT Midstream during the 4th quarter valued at about $25,000. Mather Group LLC. purchased a new stake in DT Midstream in the 1st quarter valued at about $29,000. ICA Group Wealth Management LLC purchased a new stake in DT Midstream in the 4th quarter valued at about $32,000. Finally, Burkett Financial Services LLC purchased a new stake in DT Midstream in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DTM shares. US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Stifel Nicolaus lifted their price target on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Barclays lifted their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Wells Fargo & Company raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $62.00 to $77.00 in a research note on Tuesday, June 4th. Finally, Mizuho lifted their price target on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus target price of $63.71.

DT Midstream Price Performance

DTM traded down $0.80 on Monday, hitting $70.23. 103,184 shares of the company’s stock were exchanged, compared to its average volume of 648,812. DT Midstream has a fifty-two week low of $49.06 and a fifty-two week high of $71.85. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $66.58 and a 200-day moving average price of $60.15. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 17.32 and a beta of 0.74.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same quarter in the previous year, the company posted $0.84 EPS. As a group, equities analysts anticipate that DT Midstream will post 3.94 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.94 annualized dividend and a dividend yield of 4.19%. DT Midstream’s payout ratio is 71.71%.

About DT Midstream

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.