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

DT Midstream, Inc. (NYSE:DTM) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,840,000 shares, an increase of 8.0% from the November 30th total of 2,630,000 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average daily volume of 849,700 shares, the days-to-cover ratio is presently 3.3 days.

DT Midstream Stock Performance

NYSE DTM opened at $99.43 on Thursday. The company has a fifty day simple moving average of $99.22 and a 200 day simple moving average of $84.07. DT Midstream has a 12-month low of $51.17 and a 12-month high of $109.85. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.66 billion, a P/E ratio of 24.19 and a beta of 0.77.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results 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 net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the previous year, the business posted $0.94 EPS. Sell-side analysts predict that DT Midstream will post 3.84 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DTM shares. The Goldman Sachs Group raised their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley raised their price target on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Barclays raised their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.89.

Institutional Trading of DT Midstream

Several hedge funds have recently bought and sold shares of DTM. Dimensional Fund Advisors LP lifted its stake in DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after acquiring an additional 490,613 shares in the last quarter. State Street Corp lifted its stake in DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after acquiring an additional 202,447 shares in the last quarter. Geode Capital Management LLC lifted its stake in DT Midstream by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after acquiring an additional 267,269 shares in the last quarter. Finally, Brookfield Corp ON lifted its stake in DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after acquiring an additional 655,695 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.