DT Midstream, Inc. (NYSE:DTM – Get Rating) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 2,390,000 shares, a decline of 11.2% from the December 31st total of 2,690,000 shares. Based on an average daily trading volume, of 565,000 shares, the short-interest ratio is currently 4.2 days. Approximately 2.5% of the shares of the stock are short sold.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Creative Capital Management Investments LLC acquired a new stake in shares of DT Midstream in the fourth quarter worth $25,000. Private Trust Co. NA acquired a new stake in shares of DT Midstream in the fourth quarter worth $26,000. Oakworth Capital Inc. acquired a new stake in shares of DT Midstream in the second quarter worth $25,000. Romano Brothers AND Company acquired a new stake in shares of DT Midstream in the fourth quarter worth $31,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of DT Midstream in the first quarter worth $30,000. Institutional investors and hedge funds own 78.28% of the company's stock.
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Analyst Ratings Changes
A number of brokerages have commented on DTM. Wells Fargo & Company downgraded shares of DT Midstream from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $68.00 to $62.00 in a research note on Friday, December 16th. Morgan Stanley upped their target price on shares of DT Midstream from $60.00 to $64.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 19th. Mizuho downgraded shares of DT Midstream from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $67.00 to $62.00 in a research note on Monday, October 31st. Barclays lowered their price target on shares of DT Midstream from $67.00 to $64.00 and set an "overweight" rating for the company in a research report on Wednesday, January 18th. Finally, Wolfe Research cut shares of DT Midstream from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, November 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, DT Midstream has an average rating of "Hold" and an average target price of $60.29.
DT Midstream Stock Up 2.6 %
NYSE:DTM traded up $1.36 during midday trading on Tuesday, reaching $54.66. 517,579 shares of the stock traded hands, compared to its average volume of 528,414. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.14 and a current ratio of 2.14. DT Midstream has a 12-month low of $45.58 and a 12-month high of $61.12. The stock has a market capitalization of $5.29 billion, a PE ratio of 14.16 and a beta of 0.86. The business has a 50-day moving average of $55.78 and a two-hundred day moving average of $55.70.
DT Midstream (NYSE:DTM – Get Rating) last issued its quarterly earnings results on Friday, October 28th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. DT Midstream had a net margin of 41.33% and a return on equity of 8.24%. The business had revenue of $235.00 million for the quarter, compared to analyst estimates of $230.73 million. On average, equities analysts forecast that DT Midstream will post 3.88 earnings per share for the current fiscal year.
DT Midstream Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Monday, December 19th were paid a dividend of $0.64 per share. The ex-dividend date was Friday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 4.68%. DT Midstream's payout ratio is 67.02%.
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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