DT Midstream, Inc. (NYSE:DTM) Sees Significant Increase in Short Interest

DT Midstream, Inc. (NYSE:DTM - Get Free Report) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,190,000 shares, a growth of 7.9% from the October 15th total of 2,030,000 shares. Based on an average trading volume of 604,500 shares, the short-interest ratio is presently 3.6 days. Approximately 2.3% of the shares of the stock are sold short.

DT Midstream Stock Up 1.0 %

NYSE:DTM traded up $1.04 during trading hours on Tuesday, reaching $103.01. The company had a trading volume of 1,530,209 shares, compared to its average volume of 653,281. The business's 50-day simple moving average is $85.94 and its two-hundred day simple moving average is $76.20. DT Midstream has a twelve month low of $51.17 and a twelve month high of $103.51. 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 market cap of $10.01 billion, a price-to-earnings ratio of 25.06 and a beta of 0.71.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). The business had revenue of $248.00 million during 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 prior year, the company earned $0.94 EPS. On average, equities analysts expect that DT Midstream will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's payout ratio is 71.53%.

Institutional Trading of DT Midstream

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. raised its holdings 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 period. Family Firm Inc. purchased a new position in DT Midstream in the 2nd quarter worth $26,000. V Square Quantitative Management LLC purchased a new position in shares of DT Midstream in the third quarter worth about $29,000. First Command Advisory Services Inc. bought a new stake in DT Midstream in the second quarter valued at approximately $31,000. Finally, American National Bank raised its holdings in 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 buying an additional 234 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DTM has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research report on Friday, October 4th. The Goldman Sachs Group raised their price target on shares of DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. Barclays raised their target price on DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Stifel Nicolaus downgraded DT Midstream from a "buy" rating to a "hold" rating and raised their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Finally, Citigroup upped their target price on DT Midstream from $62.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $80.44.

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.