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

DT Midstream, Inc. (NYSE:DTM) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,950,000 shares, a growth of 39.1% from the December 31st total of 2,840,000 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average daily volume of 864,500 shares, the days-to-cover ratio is currently 4.6 days.

DT Midstream Price Performance

Shares of NYSE DTM opened at $100.67 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream has a 1-year low of $51.17 and a 1-year high of $114.50. The business has a 50-day moving average of $103.84 and a 200-day moving average of $89.21. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 24.49 and a beta of 0.79.

DT Midstream (NYSE:DTM) last released 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 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 period in the previous year, the business posted $0.94 EPS. On average, equities analysts anticipate that DT Midstream will post 3.84 EPS for the current fiscal year.

Analyst Ratings Changes

DTM has been the subject of several analyst reports. Stifel Nicolaus upgraded DT Midstream from a “hold” rating to a “buy” rating and upped their target price for the company from $89.00 to $106.00 in a research note on Thursday, December 19th. Morgan Stanley increased their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Raymond James boosted their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average target price of $101.56.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in DT Midstream by 225.4% in the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares in the last quarter. Friedenthal Financial acquired a new position in shares of DT Midstream in the 4th quarter worth approximately $764,000. Atria Investments Inc acquired a new stake in shares of DT Midstream during the 3rd quarter valued at approximately $666,000. Bridgewater Associates LP raised its position in shares of DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after acquiring an additional 67,725 shares in the last quarter. Finally, State Street Corp boosted its holdings in DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after purchasing an additional 202,447 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

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.