DT Midstream, Inc. (NYSE:DTM) Short Interest Down 8.0% in November

DT Midstream, Inc. (NYSE:DTM) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 2,630,000 shares, a decrease of 8.0% from the November 15th total of 2,860,000 shares. Based on an average daily volume of 753,100 shares, the days-to-cover ratio is presently 3.5 days. Currently, 2.6% of the company’s stock are short sold.

DT Midstream Price Performance

DTM stock traded down $0.61 during trading on Tuesday, reaching $98.71. 933,365 shares of the company were exchanged, compared to its average volume of 681,417. DT Midstream has a twelve month low of $51.17 and a twelve month high of $109.85. 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 company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 24.01 and a beta of 0.77. The company has a 50-day moving average of $95.85 and a two-hundred day moving average of $81.52.

DT Midstream (NYSE:DTM) last issued 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). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the previous year, the company earned $0.94 EPS. As a group, equities 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.98%. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Institutional Investors Weigh In On DT Midstream

A number of institutional investors have recently modified their holdings of DTM. UMB Bank n.a. raised its holdings in shares of DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares during the period. Family Firm Inc. bought a new position in DT Midstream during the 2nd quarter valued at $26,000. V Square Quantitative Management LLC purchased a new stake in shares of DT Midstream in the third quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream during the third quarter valued at about $29,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of DT Midstream in the 2nd quarter worth approximately $31,000. 81.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DTM. JPMorgan Chase & Co. upped their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. 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 note on Thursday, October 31st. Barclays increased their price objective on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Citigroup raised 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. Finally, The Goldman Sachs Group raised their price target on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Two investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.78.

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.