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

DT Midstream, Inc. (NYSE:DTM) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 2,860,000 shares, a growth of 30.6% from the October 31st total of 2,190,000 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average trading volume of 722,700 shares, the days-to-cover ratio is currently 4.0 days.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Barclays increased their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company lifted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.78.

Hedge Funds Weigh In On DT Midstream

Several large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream in the 3rd quarter valued at about $29,000. Sanctuary Advisors LLC grew its holdings in DT Midstream by 14.6% in the third quarter. Sanctuary Advisors LLC now owns 4,695 shares of the company’s stock valued at $369,000 after purchasing an additional 597 shares during the period. Coldstream Capital Management Inc. purchased a new stake in DT Midstream in the third quarter valued at approximately $239,000. Geode Capital Management LLC raised its stake in DT Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after purchasing an additional 85,462 shares during the period. Finally, Executive Wealth Management LLC boosted its holdings in shares of DT Midstream by 14.7% in the 3rd quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock valued at $831,000 after purchasing an additional 1,356 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Price Performance

DT Midstream stock opened at $106.12 on Monday. The firm’s 50-day moving average is $91.23 and its two-hundred day moving average is $78.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $10.31 billion, a P/E ratio of 25.82 and a beta of 0.71. DT Midstream has a 12-month low of $51.17 and a 12-month high of $109.85.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $0.94 EPS. Equities analysts predict that DT Midstream will post 3.85 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

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.