DT Midstream, Inc. (NYSE:DTM) Short Interest Down 13.7% in January

DT Midstream, Inc. (NYSE:DTM) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 3,020,000 shares, a decline of 13.7% from the January 15th total of 3,500,000 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily volume of 983,900 shares, the short-interest ratio is currently 3.1 days.

DT Midstream Stock Performance

DT Midstream stock traded down $1.36 during trading on Friday, hitting $100.10. The stock had a trading volume of 635,530 shares, compared to its average volume of 959,051. DT Midstream has a 1 year low of $51.66 and a 1 year high of $114.50. 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 stock’s 50 day moving average is $102.92 and its two-hundred day moving average is $91.53. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 24.36 and a beta of 0.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DTM shares. JPMorgan Chase & Co. lifted their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. The Goldman Sachs Group lifted their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Raymond James boosted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Stifel Nicolaus upgraded DT Midstream from a “hold” rating to a “buy” rating and boosted their target price for the stock from $89.00 to $106.00 in a research note on Thursday, December 19th. Finally, Barclays began coverage on DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.56.

Hedge Funds Weigh In On DT Midstream

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after purchasing an additional 359,017 shares during the last quarter. State Street Corp lifted its stake in DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares during the last quarter. Geode Capital Management LLC lifted its stake in DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after purchasing an additional 386,670 shares during the last quarter. Invesco Ltd. lifted its stake in DT Midstream by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock valued at $147,942,000 after purchasing an additional 294,583 shares during the last quarter. Finally, Norges Bank purchased a new position in DT Midstream in the fourth quarter valued at approximately $119,520,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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.