DT Midstream, Inc. (NYSE:DTM) Short Interest Update

DT Midstream, Inc. (NYSE:DTM) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,360,000 shares, a growth of 11.8% from the July 15th total of 2,110,000 shares. Based on an average trading volume of 638,600 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.4% of the shares of the company are sold short.

Hedge Funds Weigh In On DT Midstream

Several large investors have recently modified their holdings of DTM. International Assets Investment Management LLC bought a new position in shares of DT Midstream during the fourth quarter worth about $815,000. Sequoia Financial Advisors LLC raised its stake in shares of DT Midstream by 22.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,059 shares of the company’s stock worth $332,000 after purchasing an additional 1,106 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of DT Midstream in the fourth quarter valued at about $1,491,000. Strs Ohio lifted its position in shares of DT Midstream by 20.8% during the 4th quarter. Strs Ohio now owns 46,979 shares of the company’s stock worth $2,574,000 after buying an additional 8,105 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of DT Midstream by 6.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,214 shares of the company’s stock valued at $1,163,000 after purchasing an additional 1,202 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

DTM traded up $0.77 on Monday, reaching $76.18. The company had a trading volume of 43,848 shares, compared to its average volume of 657,076. The stock has a market cap of $7.40 billion, a P/E ratio of 18.39 and a beta of 0.74. DT Midstream has a fifty-two week low of $50.54 and a fifty-two week high of $76.35. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.84. The company’s fifty day moving average is $71.61 and its 200 day moving average is $64.67.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. The firm had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the firm earned $0.93 earnings per share. As a group, analysts predict that DT Midstream will post 3.9 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.86%. DT Midstream’s dividend payout ratio is presently 71.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DTM shares. Wells Fargo & Company increased their price objective on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. US Capital Advisors lowered shares of DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Stifel Nicolaus boosted their price target on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Barclays increased their target price on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.00.

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.