Shares of DCP Midstream LP (NYSE:DCP) reached a new 52-week low during trading on Wednesday . The company traded as low as $24.09 and last traded at $24.09, with a volume of 25879 shares traded. The stock had previously closed at $25.41.
A number of analysts have recently commented on the stock. ValuEngine cut shares of DCP Midstream from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Credit Suisse Group reissued an “outperform” rating and set a $32.00 target price (down previously from $39.00) on shares of DCP Midstream in a research note on Wednesday. Barclays set a $34.00 target price on shares of DCP Midstream and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Royal Bank of Canada set a $26.00 target price on shares of DCP Midstream and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Citigroup set a $31.00 target price on shares of DCP Midstream and gave the stock a “hold” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $35.50.
The firm has a market cap of $3.57 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 10.02 and a beta of 2.08. The stock has a 50-day moving average price of $28.95. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.46 and a quick ratio of 0.43.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.12 annualized dividend and a yield of 12.69%. DCP Midstream’s payout ratio is 202.60%.
In other news, Director Fred J. Fowler bought 6,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $24.72 per share, for a total transaction of $148,320.00. Following the acquisition, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $810,816. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.
Large investors have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. boosted its stake in DCP Midstream by 32.9% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 5,386,989 shares of the pipeline company’s stock worth $157,839,000 after purchasing an additional 1,332,625 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of DCP Midstream by 9.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 139,015 shares of the pipeline company’s stock worth $4,073,000 after acquiring an additional 12,432 shares during the period. Morgan Stanley lifted its stake in shares of DCP Midstream by 75.2% in the 2nd quarter. Morgan Stanley now owns 1,269,435 shares of the pipeline company’s stock worth $37,195,000 after acquiring an additional 544,790 shares during the period. Brookfield Asset Management Inc. lifted its stake in shares of DCP Midstream by 3.4% in the 2nd quarter. Brookfield Asset Management Inc. now owns 2,843,778 shares of the pipeline company’s stock worth $83,323,000 after acquiring an additional 94,708 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of DCP Midstream by 47,629.8% in the 2nd quarter. Invesco Ltd. now owns 8,656,745 shares of the pipeline company’s stock worth $253,643,000 after acquiring an additional 8,638,608 shares during the period. Institutional investors own 57.20% of the company’s stock.
DCP Midstream Company Profile (NYSE:DCP)
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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