DCP Midstream (NYSE:DCP) posted its earnings results on Monday. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.23), Briefing.com reports. DCP Midstream had a return on equity of 3.07% and a net margin of 1.84%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company earned ($0.41) EPS. The business’s revenue was up 34.3% compared to the same quarter last year.
Shares of NYSE DCP traded down $0.36 during trading on Tuesday, hitting $37.26. The stock had a trading volume of 60,530 shares, compared to its average volume of 544,361. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.68 and a quick ratio of 0.65. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 70.30 and a beta of 2.27. DCP Midstream has a 12 month low of $32.33 and a 12 month high of $46.67.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Friday, November 2nd will be paid a $0.78 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $3.12 annualized dividend and a dividend yield of 8.37%. DCP Midstream’s payout ratio is 588.68%.
Several large investors have recently modified their holdings of the stock. Tortoise Index Solutions LLC boosted its holdings in shares of DCP Midstream by 16.2% in the 2nd quarter. Tortoise Index Solutions LLC now owns 13,675 shares of the pipeline company’s stock worth $541,000 after buying an additional 1,909 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of DCP Midstream by 31.8% in the 1st quarter. LPL Financial LLC now owns 8,698 shares of the pipeline company’s stock worth $305,000 after buying an additional 2,099 shares during the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of DCP Midstream in the 2nd quarter worth about $90,134,000. Ballentine Partners LLC boosted its holdings in shares of DCP Midstream by 13.1% in the 2nd quarter. Ballentine Partners LLC now owns 23,679 shares of the pipeline company’s stock worth $937,000 after buying an additional 2,739 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of DCP Midstream by 43.8% in the 1st quarter. Jane Street Group LLC now owns 12,236 shares of the pipeline company’s stock worth $430,000 after buying an additional 3,727 shares during the last quarter. 55.17% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on DCP. Citigroup upped their target price on shares of DCP Midstream from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. ValuEngine lowered shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Zacks Investment Research lowered shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. US Capital Advisors reiterated an “overweight” rating on shares of DCP Midstream in a research note on Tuesday, July 17th. Finally, Bank of America reduced their target price on shares of DCP Midstream from $48.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.36.
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About DCP Midstream
DCP Midstream, LP, together with its subsidiaries, owns, operates, acquires, and develops a portfolio of midstream energy assets in the United States. The company operates in two segments, Gathering and Processing, and Logistics and Marketing. The Gathering and Processing segment is involved in gathering, compressing, treating, and processing natural gas; producing and fractionating natural gas liquids (NGLs); and recovering condensate.
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