DT Midstream, Inc. $DTM Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 17.8% during the second quarter, HoldingsChannel reports. 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.’s holdings in DT Midstream were worth $7,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its position in shares of DT Midstream by 3.1% during the 1st 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 stake in shares of DT Midstream by 2.8% in the first quarter. Cerity Partners LLC now owns 17,033 shares of the company’s stock valued at $1,644,000 after purchasing an additional 471 shares during the period. Xponance Inc. boosted its holdings in DT Midstream by 5.3% during the first quarter. Xponance Inc. now owns 12,528 shares of the company’s stock worth $1,209,000 after buying an additional 636 shares in the last quarter. Ballentine Partners LLC grew its position in DT Midstream by 4.8% during the first quarter. Ballentine Partners LLC now owns 2,498 shares of the company’s stock worth $241,000 after buying an additional 114 shares during the period. Finally, Arizona State Retirement System increased its holdings in DT Midstream by 2.6% in the first quarter. Arizona State Retirement System now owns 28,908 shares of the company’s stock valued at $2,789,000 after buying an additional 732 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

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 price-to-earnings ratio of 29.12, a PEG 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 firm has a 50-day moving average price of $109.84 and a 200 day moving average price of $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 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. The business had revenue of $309.16 million during the quarter, compared to the consensus estimate of $309.21 million. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. During the same period in the previous year, the firm posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on DTM. Morgan Stanley boosted their price target on DT Midstream from $126.00 to $137.00 and gave the stock an “underweight” rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wells Fargo & Company boosted their target price on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price target on DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. Finally, Jefferies Financial Group began coverage on DT Midstream in a research note on Monday, November 3rd. They set a “buy” rating and a $125.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average price target of $117.46.

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.