DCP Midstream, LP (NYSE: DCP – Get a rating) received a consensus “Buy” recommendation by the thirteen brokerages that currently cover the stock, reports Marketbeat Ratings. Two investment analysts rated the stock with a hold recommendation, eight gave the company a buy recommendation and two gave the company a strong buy recommendation. The average 1-year target price among brokers who have hedged the stock over the past year is $36.00.
Several research analysts have recently released reports on the stock. Raymond James raised his price target on DCP Midstream shares from $40.00 to $45.00 and gave the stock a “Strong Buy” rating in a Wednesday, April 20 report. StockNews.com supposed coverage of DCP Midstream shares in a Thursday, March 31 report. They set a “buy” rating for the company. Evercore ISI upgraded shares of DCP Midstream from an “in-line” rating to an “outperforming” rating in a Monday, April 4 report. Mizuho raised its price target on DCP Midstream shares from $37.00 to $41.00 and gave the stock a “buy” rating in a Friday, April 8 report. To finish, Zacks Investment Research moved shares of DCP Midstream from a “hold” rating to a “strong-buy” rating and set a target price of $38.00 for the company in a Tuesday, March 29 report.
Several hedge funds and other institutional investors have recently changed their positions in the company. SG Americas Securities LLC increased its position in DCP Midstream shares by 9.8% in the first quarter. SG Americas Securities LLC now owns 22,161 shares of the pipeline company valued at $744,000 after purchasing an additional 1,974 shares during the period. Keybank National Association OH increased its position in DCP Midstream shares by 30.8% in the first quarter. Keybank National Association OH now owns 14,023 shares of the pipeline company valued at $471,000 after purchasing 3,301 additional shares during the period. Albert D Mason Inc. acquired a new equity stake in DCP Midstream in the first quarter worth approximately $202,000. Eagle Global Advisors LLC increased its position in DCP Midstream shares by 18.6% in the first quarter. Eagle Global Advisors LLC now owns 654,106 shares of the pipeline company valued at $21,952,000 after purchasing an additional 102,436 shares during the period. Finally, Farmers & Merchants Investments Inc. acquired a new equity stake in DCP Midstream in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 33.25% of the company’s shares.
NYSE DCP opened at $33.88 on Tuesday. The company has a fifty-day simple moving average of $33.70 and a two-hundred-day simple moving average of $30.57. The stock has a market capitalization of $7.06 billion, a P/E ratio of 21.31 and a beta of 3.18. DCP Midstream has a 12-month low of $22.60 and a 12-month high of $39.54. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt ratio of 0.99.
DCP Midstream (NYSE: DCP – Get a rating) last released its quarterly results on Wednesday, February 9. The pipeline company reported earnings per share (EPS) of $0.83 for the quarter, beating the Zacks consensus estimate of $0.79 by $0.04. The company posted revenue of $3.48 billion in the quarter, versus $5.31 billion expected by analysts. DCP Midstream had a net margin of 3.65% and a return on equity of 5.70%. In the same quarter last year, the company posted earnings per share of $0.34. As a group, sell-side analysts expect DCP Midstream to post earnings per share of 4.34 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 13. Shareholders of record on Friday, April 29 will receive a dividend of $0.39. The ex-date of this dividend is Thursday, April 28. This represents an annualized dividend of $1.56 and a dividend yield of 4.60%. DCP Midstream’s dividend payout ratio (DPR) is 98.11%.
About DCP Midstream (Get a rating)
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 through logistics and marketing, and collection and processing. The Logistics and Marketing segment is engaged in the transportation, trading, marketing and storage of natural gas and natural gas liquids (NGLs); and NGL fractionation.
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