DT Midstream, Inc. (NYSE:DTM) Stock Position Cut by Kestrel Investment Management Corp

Kestrel Investment Management Corp decreased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 14.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 107,575 shares of the company’s stock after selling 18,500 shares during the period. DT Midstream accounts for approximately 4.0% of Kestrel Investment Management Corp’s holdings, making the stock its 6th biggest holding. Kestrel Investment Management Corp’s holdings in DT Midstream were worth $5,895,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DTM. Geneos Wealth Management Inc. acquired a new stake in shares of DT Midstream during the first quarter worth about $30,000. Chilton Capital Management LLC purchased a new stake in shares of DT Midstream during the first quarter worth approximately $39,000. First Horizon Advisors Inc. increased its position in shares of DT Midstream by 192.3% during the third quarter. First Horizon Advisors Inc. now owns 947 shares of the company’s stock worth $50,000 after purchasing an additional 623 shares in the last quarter. Blue Trust Inc. increased its position in shares of DT Midstream by 28.3% during the fourth quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after purchasing an additional 219 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of DT Midstream during the fourth quarter worth approximately $59,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DTM shares. Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Mizuho reiterated a “neutral” rating and set a $57.00 price target (down from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Finally, Barclays upped their target price on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.50.

DT Midstream Trading Up 0.7 %

NYSE:DTM traded up $0.44 during trading hours on Friday, hitting $63.23. The company had a trading volume of 1,003,264 shares, compared to its average volume of 673,089. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $58.71 and a 200 day moving average of $56.10. The company has a market cap of $6.14 billion, a P/E ratio of 15.89 and a beta of 0.73. DT Midstream, Inc. has a 1 year low of $45.10 and a 1 year high of $64.19.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. The business had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period in the prior year, the business posted $0.93 EPS. Sell-side analysts expect that DT Midstream, Inc. will post 3.86 earnings per share for the current year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a $0.735 dividend. The ex-dividend date was Friday, March 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.65%. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s dividend payout ratio is presently 74.43%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the acquisition, the director now owns 37,289 shares in the company, valued at approximately $2,120,625.43. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

DT Midstream 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.