Connor Clark & Lunn Investment Management Ltd. Sells 665 Shares of DT Midstream, Inc. (NYSE:DTM)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of DT Midstream, Inc. (NYSE:DTM) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,096 shares of the company’s stock after selling 665 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of DT Midstream worth $6,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTM. Commerce Bank grew its holdings in shares of DT Midstream by 10.7% during the third quarter. Commerce Bank now owns 19,911 shares of the company’s stock worth $1,566,000 after buying an additional 1,932 shares in the last quarter. Caprock Group LLC boosted its position in DT Midstream by 3.7% during the 3rd quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after acquiring an additional 143 shares during the last quarter. Pathstone Holdings LLC boosted its position in DT Midstream by 3.3% during the 3rd quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after acquiring an additional 668 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of DT Midstream by 10.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock worth $1,933,000 after acquiring an additional 2,356 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of DT Midstream by 33.5% in the third quarter. Metis Global Partners LLC now owns 5,395 shares of the company’s stock valued at $424,000 after purchasing an additional 1,354 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

DTM has been the subject of a number of analyst reports. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and raised their target price for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $115.00 in a research note on Thursday. Barclays increased their price target on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Morgan Stanley lifted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $84.78.

DT Midstream Trading Up 0.1 %

DTM stock opened at $108.56 on Friday. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $109.85. The company has a market capitalization of $10.55 billion, a PE ratio of 26.41 and a beta of 0.71. The company’s 50-day simple moving average is $88.36 and its 200 day simple moving average is $77.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the previous year, the company earned $0.94 EPS. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.71%. DT Midstream’s dividend payout ratio is presently 71.53%.

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.