DT Midstream, Inc. (NYSE:DTM) Short Interest Down 13.7% in January

DT Midstream, Inc. (NYSE:DTM) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 3,020,000 shares, a drop of 13.7% from the January 15th total of 3,500,000 shares. Based on an average daily volume of 983,900 shares, the days-to-cover ratio is presently 3.1 days. Approximately 3.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Raymond James raised their price objective on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays assumed coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $101.56.

DT Midstream Trading Down 1.3 %

DTM traded down $1.36 during midday trading on Friday, hitting $100.10. 635,530 shares of the company were exchanged, compared to its average volume of 959,051. The firm has a market capitalization of $9.73 billion, a P/E ratio of 24.36 and a beta of 0.79. DT Midstream has a 1-year low of $51.66 and a 1-year high of $114.50. The firm’s 50 day moving average price is $102.92 and its 200-day moving average price is $91.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of DT Midstream in the 3rd quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream in the 3rd quarter worth about $29,000. Bessemer Group Inc. raised its position in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after acquiring an additional 117 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after acquiring an additional 160 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after acquiring an additional 163 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

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.