DCP Midstream LP (DCP) Receives Average Rating of “Hold” from Brokerages
Shares of DCP Midstream LP (NYSE:DCP) have been given an average recommendation of “Hold” by the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $40.50.
Several research analysts have recently commented on DCP shares. Credit Suisse Group reduced their price target on DCP Midstream from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, November 20th. Morgan Stanley reduced their price target on DCP Midstream from $42.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, November 30th. Citigroup reduced their price target on DCP Midstream from $46.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, November 29th. Jefferies Financial Group lowered DCP Midstream from a “buy” rating to a “hold” rating in a report on Monday, January 28th. Finally, Evercore ISI started coverage on DCP Midstream in a report on Tuesday, February 5th. They set a $34.00 price target on the stock.
DCP Midstream stock traded down $0.34 during trading on Friday, reaching $30.85. The company had a trading volume of 7,880 shares, compared to its average volume of 689,724. DCP Midstream has a 1-year low of $24.18 and a 1-year high of $46.67. The stock has a market capitalization of $4.47 billion, a P/E ratio of 20.04 and a beta of 2.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.67.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Monday, February 4th were issued a $0.78 dividend. The ex-dividend date was Friday, February 1st. This represents a $3.12 annualized dividend and a yield of 10.11%. DCP Midstream’s dividend payout ratio (DPR) is currently 202.60%.
In related news, Director Fred J. Fowler acquired 2,500 shares of the stock in a transaction dated Friday, December 28th. The stock was acquired at an average cost of $26.10 per share, with a total value of $65,250.00. Following the completion of the transaction, the director now owns 26,800 shares in the company, valued at approximately $699,480. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in DCP Midstream during the fourth quarter worth about $29,000. Penserra Capital Management LLC acquired a new position in shares of DCP Midstream in the 4th quarter worth approximately $173,000. Advisors Asset Management Inc. acquired a new position in shares of DCP Midstream in the 2nd quarter worth approximately $212,000. Lavaca Capital LLC acquired a new position in shares of DCP Midstream in the 4th quarter worth approximately $230,000. Finally, Creative Planning grew its position in shares of DCP Midstream by 4.3% in the 4th quarter. Creative Planning now owns 8,745 shares of the pipeline company’s stock worth $232,000 after acquiring an additional 360 shares in the last quarter. 56.03% of the stock is owned by institutional investors and hedge funds.
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, 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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