HITE Hedge Asset Management LLC purchased a new position in shares of DCP Midstream LP (NYSE:DCP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 50,223 shares of the pipeline company’s stock, valued at approximately $1,660,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in shares of DCP Midstream during the fourth quarter worth about $29,000. Icon Wealth Partners LLC acquired a new stake in shares of DCP Midstream during the first quarter worth about $116,000. Penserra Capital Management LLC acquired a new stake in shares of DCP Midstream during the fourth quarter worth about $173,000. American National Insurance Co. TX acquired a new stake in shares of DCP Midstream during the first quarter worth about $231,000. Finally, American Financial Group Inc. acquired a new stake in shares of DCP Midstream during the first quarter worth about $264,000. 57.26% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on DCP shares. Raymond James set a $35.00 price target on DCP Midstream and gave the stock a “buy” rating in a research report on Thursday, February 14th. ValuEngine lowered DCP Midstream from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Barclays set a $34.00 target price on DCP Midstream and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research raised DCP Midstream from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 14th. Finally, Mizuho assumed coverage on DCP Midstream in a research report on Thursday, March 21st. They issued a “buy” rating and a $36.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.73.
DCP Midstream stock traded down $0.51 during midday trading on Wednesday, reaching $29.51. The stock had a trading volume of 12,797 shares, compared to its average volume of 592,366. DCP Midstream LP has a 1-year low of $24.18 and a 1-year high of $46.67. The firm has a market cap of $4.24 billion, a PE ratio of 19.16, a P/E/G ratio of 10.88 and a beta of 2.23. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.43 and a current ratio of 0.45.
DCP Midstream (NYSE:DCP) last announced its earnings results on Monday, May 6th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.19). DCP Midstream had a net margin of 3.15% and a return on equity of 6.75%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the business posted $0.08 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts predict that DCP Midstream LP will post 1.37 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, May 3rd were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 10.57%. The ex-dividend date was Thursday, May 2nd. DCP Midstream’s dividend payout ratio is presently 202.60%.
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DCP Midstream Company Profile
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, Logistics and Marketing, and Gathering and Processing. The Logistics and Marketing segment engages in transporting, trading, marketing, and storing natural gas and natural gas liquids (NGLs); fractionating NGLs; and wholesale propane logistics.
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