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

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in DT Midstream by 225.4% in the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares in the last quarter. Atria Investments Inc acquired a new position in DT Midstream during the 3rd quarter valued at about $666,000. Bridgewater Associates LP raised its position in shares of DT Midstream by 57.6% in the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after purchasing an additional 67,725 shares during the last quarter. State Street Corp increased its position in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after acquiring an additional 202,447 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after acquiring an additional 267,269 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Price Performance

NYSE DTM opened at $99.43 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.66 billion, a P/E ratio of 24.19 and a beta of 0.77. The company has a 50-day moving average price of $99.22 and a 200-day moving average price of $84.07. DT Midstream has a 52 week low of $51.17 and a 52 week high of $109.85.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same quarter in the previous year, the business posted $0.94 earnings per share. Equities research analysts anticipate that DT Midstream will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Morgan Stanley raised their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Barclays upped their target price on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group lifted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.89.

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.