DCP Midstream (NYSE:DCP) had its price target trimmed by Credit Suisse Group from $39.00 to $32.00 in a report released on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the pipeline company’s stock.
DCP has been the topic of several other reports. Royal Bank of Canada set a $26.00 price objective on DCP Midstream and gave the company a hold rating in a research note on Friday, August 9th. ValuEngine lowered DCP Midstream from a hold rating to a sell rating in a research note on Wednesday, June 19th. Citigroup set a $31.00 price objective on DCP Midstream and gave the company a hold rating in a research note on Friday, July 19th. Finally, Barclays set a $34.00 price target on DCP Midstream and gave the stock a hold rating in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $35.50.
DCP stock opened at $25.18 on Wednesday. DCP Midstream has a 1-year low of $24.05 and a 1-year high of $43.84. The firm has a market cap of $3.50 billion, a P/E ratio of 16.35, a P/E/G ratio of 9.83 and a beta of 2.08. The business’s 50 day moving average is $28.78 and its 200-day moving average is $30.92. The company has a current ratio of 0.46, a quick ratio of 0.43 and a debt-to-equity ratio of 0.75.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.12 dividend on an annualized basis and a yield of 12.39%. DCP Midstream’s dividend payout ratio (DPR) is presently 202.60%.
In other DCP Midstream news, Director Fred J. Fowler purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $24.72 per share, for a total transaction of $148,320.00. Following the transaction, the director now directly owns 32,800 shares in the company, valued at $810,816. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DCP. Invesco Ltd. grew its position in DCP Midstream by 47,629.8% during 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 last quarter. Tortoise Capital Advisors L.L.C. boosted its position in DCP Midstream by 32.9% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 5,386,989 shares of the pipeline company’s stock valued at $157,839,000 after buying an additional 1,332,625 shares during the last quarter. OppenheimerFunds Inc. boosted its position in DCP Midstream by 17.0% in the 1st quarter. OppenheimerFunds Inc. now owns 5,679,044 shares of the pipeline company’s stock valued at $187,692,000 after buying an additional 826,841 shares during the last quarter. BlackRock Inc. bought a new position in DCP Midstream in the 4th quarter valued at $16,394,000. Finally, Morgan Stanley boosted its position in DCP Midstream by 75.2% in the 2nd quarter. Morgan Stanley now owns 1,269,435 shares of the pipeline company’s stock valued at $37,195,000 after buying an additional 544,790 shares during the last quarter. Institutional investors and hedge funds own 57.20% of the company’s stock.
About DCP Midstream
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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