Connor Clark & Lunn Investment Management Ltd. Has $6.54 Million Position in 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, HoldingsChannel.com reports. The fund owned 83,096 shares of the company’s stock after selling 665 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in DT Midstream were worth $6,536,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Commerce Bank raised its position in DT Midstream by 10.7% during the third quarter. Commerce Bank now owns 19,911 shares of the company’s stock valued at $1,566,000 after purchasing an additional 1,932 shares in the last quarter. Caprock Group LLC increased its stake in shares of DT Midstream by 3.7% in the 3rd quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock valued at $322,000 after purchasing an additional 143 shares during the last quarter. Pathstone Holdings LLC boosted its stake in DT Midstream by 3.3% in the third quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock valued at $1,633,000 after buying an additional 668 shares in the last quarter. Natixis Advisors LLC raised its stake in DT Midstream by 10.6% during the third 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 lifted 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 worth $424,000 after acquiring an additional 1,354 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the topic of several research reports. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $115.00 in a report on Thursday. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and upped their price target for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Barclays raised their price objective on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. The Goldman Sachs Group upped their target price on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley lifted their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus target price of $84.78.

DT Midstream Price Performance

DT Midstream stock opened at $108.56 on Friday. The stock’s 50 day moving average is $88.36 and its 200 day moving average is $77.20. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $109.85. The firm has a market cap of $10.55 billion, a P/E ratio of 26.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream (NYSE:DTM) last issued its quarterly 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 firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same quarter last year, the firm posted $0.94 EPS. As a group, research analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.71%. DT Midstream’s payout ratio is currently 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.