DT Midstream, Inc. (NYSE:DTM) Short Interest Up 19.6% in May

DT Midstream, Inc. (NYSE:DTM - Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 3,240,000 shares, an increase of 19.6% from the April 30th total of 2,710,000 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.2% of the company's shares are sold short.

Analyst Ratings Changes

Several brokerages have commented on DTM. Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the stock an "underweight" rating in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Bank of America began coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective on the stock. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, UBS Group boosted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus target price of $109.27.

DT Midstream Stock Performance

Shares of DT Midstream stock traded down $0.25 during trading on Friday, hitting $107.92. 296,287 shares of the company's stock traded hands, compared to its average volume of 878,953. The business has a 50-day simple moving average of $99.11 and a 200-day simple moving average of $100.30. 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 $10.96 billion, a P/E ratio of 26.26 and a beta of 0.78. DT Midstream has a 1 year low of $66.98 and a 1 year high of $115.00.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the previous year, the business earned $0.99 EPS. As a group, analysts forecast that DT Midstream will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.04%. DT Midstream's payout ratio is currently 89.37%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This trade represents a 2.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its position in shares of DT Midstream by 70.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,577 shares of the company's stock worth $1,052,000 after purchasing an additional 4,365 shares during the last quarter. Caprock Group LLC raised its stake in shares of DT Midstream by 68.2% in the fourth quarter. Caprock Group LLC now owns 6,827 shares of the company's stock valued at $683,000 after acquiring an additional 2,769 shares in the last quarter. Spire Wealth Management increased its holdings in DT Midstream by 242.8% during the 4th quarter. Spire Wealth Management now owns 1,385 shares of the company's stock worth $138,000 after purchasing an additional 981 shares during the period. Greenleaf Trust purchased a new position in shares of DT Midstream in the 4th quarter valued at about $225,000. Finally, CENTRAL TRUST Co grew its position in shares of DT Midstream by 14.4% during the fourth quarter. CENTRAL TRUST Co now owns 1,621 shares of the company's stock worth $161,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

About DT Midstream

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.