Connor Clark & Lunn Investment Management Ltd. Grows Stake in DT Midstream, Inc. (NYSE:DTM)

Connor Clark & Lunn Investment Management Ltd. increased its stake in DT Midstream, Inc. (NYSE:DTM) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,979 shares of the company’s stock after acquiring an additional 6,883 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in DT Midstream were worth $8,947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after buying an additional 754,839 shares during the period. Brookfield Corp ON boosted its position in shares of DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after buying an additional 655,695 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after buying an additional 267,269 shares during the period. Bahl & Gaynor Inc. purchased a new position in shares of DT Midstream during the fourth quarter valued at approximately $21,475,000. Finally, State Street Corp boosted its position in shares of DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after buying an additional 202,447 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 1,170 shares of company stock valued at $103,357 over the last ninety days. 0.04% of the stock is currently owned by insiders.

DT Midstream Price Performance

Shares of DTM opened at $96.02 on Friday. The firm has a market capitalization of $9.73 billion, a PE ratio of 23.36 and a beta of 0.80. 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, Inc. has a 1-year low of $57.16 and a 1-year high of $114.50. The company’s fifty day moving average price is $100.78 and its 200-day moving average price is $94.27.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.42%. DT Midstream’s payout ratio is 91.11%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group assumed coverage on DT Midstream in a research report on Wednesday. They set a “buy” rating and a $102.00 target price for the company. JPMorgan Chase & Co. boosted their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays assumed coverage on DT Midstream in a report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus price target of $102.00.

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.