Short Interest in DT Midstream, Inc. (NYSE:DTM) Drops By 8.0%

DT Midstream, Inc. (NYSE:DTM - Get Free Report) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,630,000 shares, a drop of 8.0% from the November 15th total of 2,860,000 shares. Approximately 2.6% of the company's shares are short sold. Based on an average daily trading volume, of 753,100 shares, the short-interest ratio is presently 3.5 days.

Institutional Trading of DT Midstream

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in DT Midstream by 225.4% in the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company's stock worth $11,449,000 after purchasing an additional 100,825 shares in the last quarter. Atria Investments Inc purchased a new position in shares of DT Midstream in the third quarter worth $666,000. Bridgewater Associates LP lifted its stake in shares of DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company's stock worth $14,576,000 after buying an additional 67,725 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of DT Midstream by 15.3% during the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company's stock valued at $8,657,000 after buying an additional 16,171 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of DT Midstream by 30.1% in 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 during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Down 0.6 %

DTM traded down $0.56 on Monday, hitting $99.32. The company had a trading volume of 696,775 shares, compared to its average volume of 680,375. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 24.17 and a beta of 0.77. 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 fifty day moving average price of $95.85 and a 200-day moving average price of $81.52. DT Midstream has a 12-month low of $51.17 and a 12-month high of $109.85.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million during the quarter, compared to analysts' expectations of $242.64 million. During the same period in the previous year, the firm earned $0.94 EPS. Analysts predict that DT Midstream will post 3.84 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.96%. DT Midstream's dividend payout ratio is presently 71.53%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DTM. Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Stifel Nicolaus lowered DT Midstream from a "buy" rating to a "hold" rating and lifted their target price for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price target on DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $84.78.

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.