DT Midstream, Inc. (NYSE:DTM) Sees Large Decrease in Short Interest

DT Midstream, Inc. (NYSE:DTMGet Rating) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,310,000 shares, a decline of 6.9% from the October 15th total of 2,480,000 shares. Based on an average daily volume of 531,400 shares, the days-to-cover ratio is presently 4.3 days. Currently, 2.4% of the company’s shares are sold short.

DT Midstream Trading Up 1.2 %

Shares of NYSE DTM opened at $58.80 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market capitalization of $5.69 billion, a P/E ratio of 15.39 and a beta of 0.88. DT Midstream has a 1-year low of $44.70 and a 1-year high of $61.12. The business has a fifty day moving average price of $56.27 and a 200 day moving average price of $54.68.

DT Midstream (NYSE:DTMGet Rating) last issued its quarterly earnings data on Friday, October 28th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. DT Midstream had a return on equity of 8.24% and a net margin of 41.33%. The firm had revenue of $235.00 million during the quarter, compared to analysts’ expectations of $230.73 million. Equities research analysts expect that DT Midstream will post 3.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in DT Midstream by 3.3% during the 1st quarter. Van ECK Associates Corp now owns 23,192 shares of the company’s stock valued at $1,258,000 after buying an additional 741 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in shares of DT Midstream in the first quarter valued at about $1,476,000. Strs Ohio acquired a new position in shares of DT Midstream in the second quarter valued at about $2,114,000. Baird Financial Group Inc. increased its holdings in shares of DT Midstream by 5.5% in the second quarter. Baird Financial Group Inc. now owns 36,617 shares of the company’s stock valued at $1,795,000 after purchasing an additional 1,920 shares during the period. Finally, Venture Visionary Partners LLC acquired a new position in shares of DT Midstream in the second quarter valued at about $94,000. 77.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on DTM. Mizuho downgraded DT Midstream from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $62.00 in a research report on Monday, October 31st. Wolfe Research cut DT Midstream from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Morgan Stanley boosted their price objective on DT Midstream from $60.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, October 19th. Finally, Barclays upped their target price on DT Midstream from $63.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.17.

DT Midstream Company Profile

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DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.

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