Short Interest in DT Midstream, Inc. (NYSE:DTM) Increases By 30.6%

DT Midstream, Inc. (NYSE:DTM - Get Free Report) saw a large increase in short interest in 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 trading volume of 722,700 shares, the days-to-cover ratio is presently 4.0 days. Approximately 2.9% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities analysts have issued reports on DTM shares. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a report on Friday, October 4th. The Goldman Sachs Group boosted their price objective on DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a research note on Tuesday, November 5th. Barclays lifted their price target on DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and increased their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, Stifel Nicolaus cut shares of DT Midstream from a "buy" rating to a "hold" rating and lifted their target price for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $84.78.

DT Midstream Trading Down 3.6 %

Shares of DTM traded down $3.82 during midday trading on Monday, reaching $102.30. The company had a trading volume of 327,952 shares, compared to its average volume of 672,174. DT Midstream has a 1-year low of $51.17 and a 1-year high of $109.85. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $91.23 and a 200-day simple moving average of $78.81. The stock has a market cap of $9.94 billion, a PE ratio of 24.81 and a beta of 0.71.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) 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 return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the business posted $0.94 earnings per share. Research analysts forecast that DT Midstream will post 3.85 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. Investors of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's dividend payout ratio is presently 71.53%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DTM. UMB Bank n.a. raised 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 valued at $25,000 after acquiring an additional 240 shares during the period. Family Firm Inc. purchased a new stake in DT Midstream in the second quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new position in DT Midstream during the third quarter worth $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of DT Midstream during the third quarter worth $29,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of DT Midstream in the second quarter valued at $31,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

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.