Short Interest in DT Midstream, Inc. (NYSE:DTM) Increases By 39.1%

DT Midstream, Inc. (NYSE:DTM - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 3,950,000 shares, a growth of 39.1% from the December 31st total of 2,840,000 shares. Based on an average daily trading volume, of 864,500 shares, the days-to-cover ratio is presently 4.6 days. Approximately 3.9% of the company's stock are short sold.

Institutional Trading of DT Midstream

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company's stock valued at $63,396,000 after buying an additional 754,839 shares in the last quarter. Brookfield Corp ON increased its stake in DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock worth $81,689,000 after purchasing an additional 655,695 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of DT Midstream during the third quarter worth about $39,166,000. Charles Schwab Investment Management Inc. grew its holdings in shares of DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock valued at $90,978,000 after purchasing an additional 267,269 shares in the last quarter. Finally, State Street Corp increased 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 worth $268,757,000 after buying an additional 202,447 shares during the period. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on DTM. The Goldman Sachs Group boosted their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 19th. Wells Fargo & Company increased their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Raymond James raised their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Finally, Stifel Nicolaus upgraded DT Midstream from a "hold" rating to a "buy" rating and boosted their price target for the company from $89.00 to $106.00 in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $101.56.

DT Midstream Price Performance

DTM stock traded up $1.88 during mid-day trading on Thursday, reaching $102.44. The company's stock had a trading volume of 518,737 shares, compared to its average volume of 929,432. 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's 50 day moving average is $103.84 and its two-hundred day moving average is $89.21. DT Midstream has a fifty-two week low of $51.17 and a fifty-two week high of $114.50. The stock has a market cap of $9.95 billion, a PE ratio of 24.99 and a beta of 0.79.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million for 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 firm posted $0.94 EPS. Equities research analysts expect that DT Midstream will post 3.84 EPS for the current year.

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.