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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their target price on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Morgan Stanley increased their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Barclays increased their price objective 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 research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream currently has an average rating of “Hold” and a consensus target price of $84.78.

DT Midstream Stock Up 0.3 %

Shares of DTM stock 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. The stock has a market cap of $10.31 billion, a PE ratio of 25.82 and a beta of 0.71. The business’s fifty day moving average is $91.23 and its 200-day moving average is $78.72. DT Midstream has a 1 year low of $51.17 and a 1 year high of $109.85.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The business had revenue of $248.00 million during the quarter, compared to analyst estimates 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 previous year, the company posted $0.94 earnings per share. Equities analysts expect that DT Midstream will post 3.85 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. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.77%. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Institutional Investors Weigh In On DT Midstream

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

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.