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 large growth in short interest in the month of May. As of May 15th, there was short interest totalling 3,240,000 shares, a growth of 19.6% from the April 30th total of 2,710,000 shares. Currently, 3.2% of the company's stock are sold short. Based on an average trading volume of 1,220,000 shares, the short-interest ratio is currently 2.7 days.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. The trade was a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On DT Midstream

A number of hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in DT Midstream during the 1st quarter worth approximately $2,337,000. Acadian Asset Management LLC lifted its holdings in DT Midstream by 77.4% during the 1st quarter. Acadian Asset Management LLC now owns 68,296 shares of the company's stock worth $6,585,000 after buying an additional 29,792 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in DT Midstream by 39.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after buying an additional 123 shares in the last quarter. Intech Investment Management LLC lifted its holdings in DT Midstream by 617.9% during the 1st quarter. Intech Investment Management LLC now owns 72,102 shares of the company's stock worth $6,956,000 after buying an additional 62,058 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in DT Midstream by 1.9% during the 1st quarter. Focus Partners Wealth now owns 248,327 shares of the company's stock worth $23,959,000 after buying an additional 4,588 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group increased their price target on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Wells Fargo & Company cut their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Barclays raised their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Bank of America started coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price target for the company. Finally, 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream presently has an average rating of "Hold" and an average price target of $109.27.

DT Midstream Price Performance

NYSE DTM traded up $0.07 during trading hours on Friday, hitting $108.23. 752,640 shares of the company's stock traded hands, compared to its average volume of 884,460. DT Midstream has a 52-week low of $66.98 and a 52-week high of $114.50. The company has a market capitalization of $10.99 billion, a PE ratio of 26.33 and a beta of 0.78. 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 firm's 50-day moving average is $99.31 and its 200-day moving average is $100.26.

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

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.03%. DT Midstream's payout ratio is currently 89.37%.

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.