DT Midstream, Inc. (NYSE:DTM) Short Interest Up 8.0% in December

DT Midstream, Inc. (NYSE:DTM) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,840,000 shares, an increase of 8.0% from the November 30th total of 2,630,000 shares. Based on an average daily trading volume, of 849,700 shares, the short-interest ratio is currently 3.3 days. Currently, 2.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DTM. Raymond James & Associates grew its stake in shares of DT Midstream by 1.1% in the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock worth $1,289,000 after acquiring an additional 201 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in DT Midstream by 1,481.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,001 shares of the company’s stock worth $852,000 after purchasing an additional 11,242 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in DT Midstream by 5.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,324 shares of the company’s stock valued at $1,088,000 after buying an additional 747 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of DT Midstream by 2.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,186 shares of the company’s stock worth $1,434,000 after buying an additional 423 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of DT Midstream by 11.7% in the 2nd quarter. Signaturefd LLC now owns 2,212 shares of the company’s stock worth $157,000 after buying an additional 232 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE DTM opened at $99.43 on Thursday. 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 fifty day simple moving average of $99.22 and a 200 day simple moving average of $84.07. DT Midstream has a 12-month low of $51.17 and a 12-month high of $109.85. The company has a market cap of $9.66 billion, a P/E ratio of 24.19 and a beta of 0.77.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data 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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. Sell-side analysts predict that DT Midstream will post 3.84 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Wall Street Analyst Weigh In

DTM has been the subject of a number of recent analyst reports. 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. Barclays raised their target price on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Morgan Stanley boosted their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and raised their price objective for the stock from $89.00 to $106.00 in a research report on Thursday, December 19th. Finally, Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average target price of $88.89.

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.