Kestrel Investment Management Corp Sells 18,500 Shares of DT Midstream, Inc. (NYSE:DTM)

Kestrel Investment Management Corp trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,575 shares of the company’s stock after selling 18,500 shares during the period. DT Midstream comprises 4.0% of Kestrel Investment Management Corp’s holdings, making the stock its 6th largest position. Kestrel Investment Management Corp owned approximately 0.11% of DT Midstream worth $5,895,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in DT Midstream during the first quarter worth about $30,000. Chilton Capital Management LLC purchased a new position in DT Midstream during the first quarter worth approximately $39,000. First Horizon Advisors Inc. boosted its position in 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. boosted its position in 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 position in DT Midstream during the fourth quarter worth approximately $59,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Trading Up 0.7 %

DT Midstream stock traded up $0.44 during trading on Friday, reaching $63.23. 1,003,264 shares of the company were exchanged, compared to its average volume of 673,089. DT Midstream, Inc. has a 52-week low of $45.10 and a 52-week high of $64.19. The company has a market capitalization of $6.14 billion, a P/E ratio of 15.89 and a beta of 0.73. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $58.71 and its two-hundred day simple moving average is $56.10.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Friday, February 16th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $235.19 million. During the same quarter last year, the business posted $0.93 earnings per share. On average, equities research analysts expect that DT Midstream, Inc. will post 3.86 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were paid a dividend of $0.735 per share. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, March 15th. This represents a $2.94 annualized dividend and a yield of 4.65%. DT Midstream’s dividend payout ratio (DPR) is 74.43%.

Analyst Upgrades and Downgrades

DTM has been the topic of a number of recent analyst reports. Mizuho reiterated a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Barclays raised their target price on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average price target of $58.50.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was bought at an average price of $56.87 per share, with a total value of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by insiders.

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.