Shares of DCP Midstream LP (NYSE:DCP) have been assigned an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.89.
A number of equities research analysts recently commented on the company. Morgan Stanley decreased their price target on DCP Midstream from $42.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, November 30th. Citigroup decreased their price target on DCP Midstream from $46.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, November 29th. Stifel Nicolaus upgraded DCP Midstream from a “hold” rating to a “buy” rating and increased their price target for the stock from $42.00 to $51.00 in a research report on Monday, August 13th. ValuEngine lowered DCP Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Credit Suisse Group assumed coverage on DCP Midstream in a research report on Thursday, October 11th. They set an “outperform” rating and a $57.00 price target on the stock.
Large investors have recently bought and sold shares of the business. Clinton Group Inc. acquired a new position in DCP Midstream during the 3rd quarter worth $438,000. Global X Management Co LLC lifted its holdings in DCP Midstream by 10.6% during the 2nd quarter. Global X Management Co LLC now owns 1,140,742 shares of the pipeline company’s stock worth $45,116,000 after buying an additional 109,664 shares in the last quarter. Perella Weinberg Partners Capital Management LP lifted its holdings in DCP Midstream by 146.2% during the 3rd quarter. Perella Weinberg Partners Capital Management LP now owns 215,189 shares of the pipeline company’s stock worth $8,519,000 after buying an additional 127,801 shares in the last quarter. Cadence Capital Management LLC lifted its holdings in DCP Midstream by 20.5% during the 2nd quarter. Cadence Capital Management LLC now owns 118,390 shares of the pipeline company’s stock worth $4,682,000 after buying an additional 20,140 shares in the last quarter. Finally, Cbre Clarion Securities LLC acquired a new position in DCP Midstream during the 2nd quarter worth $2,428,000. 55.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of DCP stock traded down $1.07 during trading hours on Friday, hitting $34.37. The company had a trading volume of 490,266 shares, compared to its average volume of 761,854. DCP Midstream has a 12 month low of $31.50 and a 12 month high of $46.67. The firm has a market cap of $4.88 billion, a P/E ratio of 64.85 and a beta of 2.27. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.
DCP Midstream (NYSE:DCP) last released its quarterly earnings data on Monday, November 5th. The pipeline company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.23). DCP Midstream had a net margin of 2.76% and a return on equity of 4.18%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company posted ($0.41) earnings per share. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. Sell-side analysts forecast that DCP Midstream will post 0.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Friday, November 2nd were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 9.08%. The ex-dividend date was Thursday, November 1st. DCP Midstream’s dividend payout ratio is 588.68%.
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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