DT Midstream, Inc. (NYSE:DTM) Short Interest Up 7.9% in October

DT Midstream, Inc. (NYSE:DTM) was the recipient of a significant growth in short interest in 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 daily volume of 604,500 shares, the days-to-cover ratio is currently 3.6 days. Approximately 2.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DTM. Citigroup increased their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price target on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Barclays upped their price objective on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group upped their price target on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.44.

DT Midstream Stock Up 0.0 %

Shares of NYSE:DTM opened at $102.00 on Tuesday. The firm has a 50 day simple moving average of $85.94 and a 200-day simple moving average of $76.20. DT Midstream has a twelve month low of $51.17 and a twelve month high of $102.81. 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 has a market capitalization of $9.91 billion, a PE ratio of 24.81 and a beta of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly 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 company had revenue of $248.00 million during the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.94 earnings per share. On average, equities analysts predict that DT Midstream will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.88%. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of DT Midstream by 324.3% in the third 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 2nd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new stake in DT Midstream during the 3rd quarter worth $29,000. First Command Advisory Services Inc. purchased a new position in DT Midstream during the 2nd quarter worth $31,000. Finally, American National Bank increased its stake in DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.