DT Midstream, Inc. (NYSE:DTM) Short Interest Up 30.6% in November

DT Midstream, Inc. (NYSE:DTM) was the recipient of a large increase in short interest in the month of 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 daily volume of 722,700 shares, the short-interest ratio is presently 4.0 days. Approximately 2.9% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DTM shares. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and upped their target price for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Barclays lifted their price target on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Morgan Stanley increased their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus price target of $84.78.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds have recently added to or reduced their stakes in DTM. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream in the 3rd quarter worth $29,000. Sanctuary Advisors LLC increased its holdings in DT Midstream by 14.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,695 shares of the company’s stock worth $369,000 after buying an additional 597 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in DT Midstream in the 3rd quarter worth about $239,000. Geode Capital Management LLC lifted its stake in DT Midstream by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares during the period. Finally, Executive Wealth Management LLC boosted its holdings in shares of DT Midstream by 14.7% during the 3rd quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock valued at $831,000 after acquiring 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 Trading Up 0.3 %

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

DT Midstream (NYSE:DTM) last posted its quarterly earnings results 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). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. During the same period in the prior year, the firm earned $0.94 EPS. As a group, equities analysts predict that DT Midstream will post 3.85 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.77%. DT Midstream’s 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.