Connor Clark & Lunn Investment Management Ltd. Decreases Stake in DT Midstream, Inc. $DTM

Connor Clark & Lunn Investment Management Ltd. cut its position in DT Midstream, Inc. (NYSE:DTM) by 17.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,087 shares of the company’s stock after selling 14,966 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of DT Midstream worth $7,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of DT Midstream by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 222,541 shares of the company’s stock worth $21,471,000 after purchasing an additional 6,715 shares in the last quarter. Cerity Partners LLC lifted its holdings in DT Midstream by 2.8% during the 1st quarter. Cerity Partners LLC now owns 17,033 shares of the company’s stock worth $1,644,000 after buying an additional 471 shares during the last quarter. Xponance Inc. boosted its position in shares of DT Midstream by 5.3% during the 1st quarter. Xponance Inc. now owns 12,528 shares of the company’s stock worth $1,209,000 after acquiring an additional 636 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of DT Midstream by 4.8% in the 1st quarter. Ballentine Partners LLC now owns 2,498 shares of the company’s stock valued at $241,000 after acquiring an additional 114 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of DT Midstream by 2.6% during the 1st quarter. Arizona State Retirement System now owns 28,908 shares of the company’s stock worth $2,789,000 after acquiring an additional 732 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DTM. JPMorgan Chase & Co. upped their price target on DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Mizuho upped their target price on shares of DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Stifel Nicolaus lifted their price target on shares of DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their target price on DT Midstream from $126.00 to $137.00 and gave the stock an “underweight” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $117.46.

DT Midstream Trading Up 0.6%

Shares of DTM stock opened at $115.30 on Thursday. The company has a market capitalization of $11.72 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $109.84 and its two-hundred day moving average is $105.79. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $115.80.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.10. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.The firm had revenue of $309.16 million during the quarter, compared to the consensus estimate of $309.21 million. During the same period last year, the company earned $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. Equities analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.28 annualized dividend and a dividend yield of 2.8%. DT Midstream’s payout ratio is presently 82.83%.

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.