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

DT Midstream, Inc. (NYSE:DTM - Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 2,030,000 shares, a decrease of 12.9% from the September 30th total of 2,330,000 shares. Based on an average trading volume of 599,200 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of DT Midstream from $62.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Wells Fargo & Company raised their price target on DT Midstream from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research report on Friday, October 4th. Barclays lifted their price objective on DT Midstream from $76.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus upped their target price on shares of DT Midstream from $70.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, DT Midstream has a consensus rating of "Hold" and an average price target of $77.38.

Institutional Trading of DT Midstream

Several hedge funds have recently made changes to their positions in DTM. UMB Bank n.a. grew its stake in shares of DT Midstream by 324.3% in the 3rd 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 last quarter. Family Firm Inc. purchased a new stake in shares of DT Midstream during the 2nd quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in DT Midstream in the third quarter valued at approximately $29,000. First Command Advisory Services Inc. acquired a new position in DT Midstream during the second quarter worth $31,000. Finally, American National Bank increased its holdings in shares of DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company's stock valued at $33,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 81.53% of the company's stock.

DT Midstream Stock Up 2.1 %

DT Midstream stock traded up $1.84 during midday trading on Tuesday, hitting $89.26. 1,249,445 shares of the company were exchanged, compared to its average volume of 639,225. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. DT Midstream has a fifty-two week low of $51.17 and a fifty-two week high of $89.32. The company's fifty day moving average price is $80.25 and its 200-day moving average price is $72.76. The company has a market cap of $8.67 billion, a PE ratio of 21.33 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period last year, the firm earned $0.93 earnings per share. On average, research analysts predict that DT Midstream will post 3.99 EPS for the current fiscal year.

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.

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