Connor Clark & Lunn Investment Management Ltd. Has $8.11 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in DT Midstream, Inc. by 6.6%, now owning 84,053 shares valued at approximately $8.11 million.
• Analysts have mixed ratings on DT Midstream, with Wells Fargo raising the price target to $117 while US Capital Advisors downgraded it to a "hold" rating, leading to a consensus rating of "hold".
• DT Midstream announced a quarterly dividend of $0.82 per share, representing a 3.1% dividend yield with an 87.94% payout ratio.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,053 shares of the company's stock after selling 5,926 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of DT Midstream worth $8,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in DTM. Townsquare Capital LLC raised its position in shares of DT Midstream by 65.9% in the 1st quarter. Townsquare Capital LLC now owns 14,984 shares of the company's stock valued at $1,446,000 after acquiring an additional 5,950 shares during the period. National Bank of Canada FI raised its position in shares of DT Midstream by 127.3% in the 1st quarter. National Bank of Canada FI now owns 68,555 shares of the company's stock valued at $6,613,000 after acquiring an additional 38,395 shares during the period. Swiss National Bank raised its position in shares of DT Midstream by 2.2% in the 1st quarter. Swiss National Bank now owns 195,200 shares of the company's stock valued at $18,833,000 after acquiring an additional 4,200 shares during the period. Maryland State Retirement & Pension System raised its position in shares of DT Midstream by 5.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 90,469 shares of the company's stock valued at $8,728,000 after acquiring an additional 4,774 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of DT Midstream by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock valued at $110,790,000 after acquiring an additional 5,218 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on DTM shares. Wells Fargo & Company increased their price target on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley increased their price target on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Stifel Nicolaus increased their price target on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Barclays increased their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $110.91.

DT Midstream Price Performance

Shares of DTM opened at $104.39 on Tuesday. The stock has a market capitalization of $10.60 billion, a P/E ratio of 27.99, a P/E/G ratio of 1.91 and a beta of 0.77. DT Midstream, Inc. has a twelve month low of $71.97 and a twelve month high of $114.50. The company has a 50 day moving average of $104.54 and a 200-day moving average of $100.34. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. The company had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same period last year, the business earned $0.98 EPS. As a group, equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio (DPR) is currently 87.94%.

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.

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