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

DT Midstream, Inc. (NYSE:DTM) saw 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. Based on an average daily volume of 864,500 shares, the days-to-cover ratio is presently 4.6 days. Approximately 3.9% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

DTM has been the topic of several recent research reports. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and raised their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. 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 research note on Tuesday. Finally, Barclays assumed coverage on shares of DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.56.

Institutional Investors Weigh In On DT Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. raised its holdings in shares of DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of DT Midstream during the 3rd quarter valued at $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream during the 3rd quarter worth $29,000. AdvisorNet Financial Inc grew its holdings in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after acquiring an additional 160 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Trading Up 1.7 %

DT Midstream stock opened at $100.67 on Thursday. DT Midstream has a 12-month low of $51.17 and a 12-month high of $114.50. 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 stock has a market capitalization of $9.78 billion, a PE ratio of 24.49 and a beta of 0.79. The firm has a 50 day simple moving average of $103.84 and a 200-day simple moving average of $89.21.

DT Midstream (NYSE:DTM) last issued 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). The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter last year, the business posted $0.94 earnings per share. As a group, equities research analysts expect that DT Midstream will post 3.84 EPS for the current fiscal year.

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.