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

DT Midstream, Inc. (NYSE:DTM) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,590,000 shares, a growth of 13.6% from the May 31st total of 2,280,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 643,300 shares, the short-interest ratio is currently 4.0 days.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 400 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at $2,781,098. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. Wetzel Investment Advisors Inc. purchased a new position in DT Midstream in the fourth quarter valued at about $25,000. HHM Wealth Advisors LLC purchased a new stake in shares of DT Midstream during the 4th quarter valued at approximately $25,000. Mather Group LLC. purchased a new stake in shares of DT Midstream during the 1st quarter valued at approximately $29,000. ICA Group Wealth Management LLC purchased a new stake in shares of DT Midstream during the 4th quarter valued at approximately $32,000. Finally, Burkett Financial Services LLC purchased a new stake in shares of DT Midstream during the 4th quarter valued at approximately $42,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Down 1.1 %

DTM stock traded down $0.80 during trading on Monday, reaching $70.23. The stock had a trading volume of 103,184 shares, compared to its average volume of 648,812. DT Midstream has a one year low of $49.06 and a one year high of $71.85. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $66.58 and its two-hundred day moving average is $60.15. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 17.32 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The business had revenue of $240.00 million during the quarter, compared to the consensus estimate of $242.62 million. During the same period in the prior year, the firm posted $0.84 EPS. Equities research analysts forecast that DT Midstream will post 3.94 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Monday, June 17th. DT Midstream’s payout ratio is 71.71%.

Wall Street Analyst Weigh In

DTM has been the subject of several research analyst reports. US Capital Advisors downgraded shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Stifel Nicolaus lifted their price target on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Mizuho lifted their price target on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Wells Fargo & Company raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $62.00 to $77.00 in a research note on Tuesday, June 4th. Finally, Barclays lifted their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.71.

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.