Wells Fargo & Company MN cut its holdings in shares of DCP Midstream LP (NYSE:DCP) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,364 shares of the pipeline company’s stock after selling 2,445 shares during the period. Wells Fargo & Company MN’s holdings in DCP Midstream were worth $1,502,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Schroder Investment Management Group purchased a new stake in shares of DCP Midstream during the 3rd quarter worth $4,756,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in DCP Midstream by 0.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 674,252 shares of the pipeline company’s stock valued at $23,356,000 after purchasing an additional 1,746 shares during the last quarter. JPMorgan Chase & Co. raised its stake in DCP Midstream by 46.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,415,243 shares of the pipeline company’s stock valued at $49,251,000 after purchasing an additional 451,592 shares during the last quarter. Harvest Fund Advisors LLC raised its stake in DCP Midstream by 1.4% in the 3rd quarter. Harvest Fund Advisors LLC now owns 4,685,245 shares of the pipeline company’s stock valued at $162,297,000 after purchasing an additional 62,796 shares during the last quarter. Finally, ING Groep NV raised its stake in DCP Midstream by 425.4% in the 3rd quarter. ING Groep NV now owns 524,896 shares of the pipeline company’s stock valued at $18,182,000 after purchasing an additional 425,000 shares during the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.
Several analysts have commented on DCP shares. Credit Suisse Group assumed coverage on DCP Midstream in a report on Thursday, January 4th. They issued a “neutral” rating and a $36.00 price target for the company. Zacks Investment Research upgraded DCP Midstream from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Tuesday, January 2nd. Bank of America assumed coverage on DCP Midstream in a report on Tuesday, January 9th. They set a “buy” rating for the company. Stifel Nicolaus set a $39.00 price target on DCP Midstream and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Goldman Sachs Group upgraded DCP Midstream from a “sell” rating to a “neutral” rating and set a $48.00 price target for the company in a report on Thursday, February 1st. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.42.
Shares of DCP Midstream LP (DCP) traded up $1.06 during mid-day trading on Monday, reaching $39.00. The company had a trading volume of 445,489 shares, compared to its average volume of 601,699. DCP Midstream LP has a fifty-two week low of $29.70 and a fifty-two week high of $42.79. The company has a market capitalization of $5,590.00, a PE ratio of 54.93 and a beta of 2.15. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.73 and a quick ratio of 0.70.
The business also recently announced a dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th will be issued a dividend of $0.78 per share. This represents a dividend yield of 0.0189504373177843%. The ex-dividend date is Tuesday, February 6th. DCP Midstream’s dividend payout ratio is 439.44%.
In other news, insider Don Baldridge purchased 50 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $1,000.00 per share, with a total value of $50,000.00. Following the purchase, the insider now directly owns 50 shares of the company’s stock, valued at $50,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kempen Wouter T. Van purchased 750 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $1,000.00 per share, with a total value of $750,000.00. Following the completion of the purchase, the chief executive officer now directly owns 750 shares in the company, valued at $750,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 950 shares of company stock valued at $950,000. 0.04% of the stock is currently owned by company insiders.
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About DCP Midstream
DCP Midstream, LP, formerly DCP Midstream Partners, LP, is a producer and marketer of natural gas liquids (NGLs) in the United States. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering, and selling condensate, and transporting, storing and selling propane in wholesale markets.
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