$0.41 Earnings Per Share Expected for DCP Midstream LP (DCP) This Quarter

Brokerages forecast that DCP Midstream LP (NYSE:DCP) will report earnings per share of $0.43 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for DCP Midstream’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.52. DCP Midstream reported earnings of ($0.08) per share during the same quarter last year, which would suggest a positive year over year growth rate of 637.5%. The business is scheduled to report its next earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that DCP Midstream will report full year earnings of $1.16 per share for the current year, with EPS estimates ranging from $1.10 to $1.28. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.24 per share, with EPS estimates ranging from $1.05 to $3.01. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for DCP Midstream.

DCP Midstream (NYSE:DCP) last announced its quarterly earnings results on Tuesday, August 7th. The pipeline company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.17). The firm had revenue of $2.32 billion for the quarter. DCP Midstream had a return on equity of 3.07% and a net margin of 1.84%.



A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upgraded DCP Midstream from a “hold” rating to a “buy” rating and increased their target price for the company from $42.00 to $51.00 in a research note on Monday. Citigroup increased their target price on DCP Midstream from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. ValuEngine upgraded DCP Midstream from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered DCP Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Finally, US Capital Advisors reiterated an “overweight” rating on shares of DCP Midstream in a research note on Tuesday, July 17th. 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 stock. DCP Midstream has a consensus rating of “Hold” and a consensus price target of $41.83.

DCP stock opened at $44.39 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. DCP Midstream has a 1 year low of $29.95 and a 1 year high of $46.67. The stock has a market capitalization of $6.48 billion, a PE ratio of 83.75 and a beta of 2.35.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Friday, August 3rd were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.03%. DCP Midstream’s dividend payout ratio (DPR) is currently 588.68%.

Several hedge funds have recently bought and sold shares of DCP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of DCP Midstream in the second quarter valued at about $52,925,000. Summit Trail Advisors LLC boosted its holdings in DCP Midstream by 5,069.2% in the first quarter. Summit Trail Advisors LLC now owns 1,002,729 shares of the pipeline company’s stock valued at $1,003,000 after purchasing an additional 983,331 shares during the last quarter. Alps Advisors Inc. boosted its holdings in DCP Midstream by 5.9% in the second quarter. Alps Advisors Inc. now owns 7,510,182 shares of the pipeline company’s stock valued at $272,845,000 after purchasing an additional 420,636 shares during the last quarter. Northwestern Mutual Investment Management Company LLC purchased a new position in DCP Midstream in the first quarter valued at about $9,727,000. Finally, Wells Fargo & Company MN boosted its holdings in DCP Midstream by 88.4% in the second quarter. Wells Fargo & Company MN now owns 525,364 shares of the pipeline company’s stock valued at $20,778,000 after purchasing an additional 246,539 shares during the last quarter. Institutional investors and hedge funds own 55.41% of the company’s stock.

About DCP Midstream

DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and condensate; and transporting, storing and selling propane in wholesale markets.

See Also: What is a Leveraged Buyout (LBO)?

Get a free copy of the Zacks research report on DCP Midstream (DCP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for DCP Midstream (NYSE:DCP)

Receive News & Ratings for DCP Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DCP Midstream and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply