Shares of DCP Midstream, LP (NYSE:DCP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.55 and last traded at $32.55, with a volume of 100 shares. The stock had previously closed at $32.20.
Several brokerages recently issued reports on DCP. Credit Suisse Group raised their target price on shares of DCP Midstream from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, August 11th. Wells Fargo & Company upgraded shares of DCP Midstream from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $29.00 to $32.00 in a report on Monday, August 9th. Mizuho boosted their target price on shares of DCP Midstream from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, August 9th. Finally, Barclays upped their price objective on shares of DCP Midstream from $27.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, June 17th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, DCP Midstream presently has an average rating of “Buy” and a consensus target price of $29.60.
The business’s 50 day moving average price is $27.79 and its 200 day moving average price is $26.86. The stock has a market capitalization of $6.76 billion, a P/E ratio of 41.82 and a beta of 3.58. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.84 and a quick ratio of 0.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Friday, October 29th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Thursday, October 28th. DCP Midstream’s dividend payout ratio is presently 105.41%.
Hedge funds have recently bought and sold shares of the business. Albion Financial Group UT purchased a new stake in shares of DCP Midstream during the second quarter valued at about $31,000. Meeder Asset Management Inc. purchased a new position in DCP Midstream in the 2nd quarter valued at $33,000. Quadrant Capital Group LLC purchased a new position in DCP Midstream in the 1st quarter valued at $49,000. Cowen Prime Advisors LLC purchased a new position in DCP Midstream in the 2nd quarter valued at $49,000. Finally, IronBridge Private Wealth LLC purchased a new position in shares of DCP Midstream during the 1st quarter worth $151,000. Institutional investors and hedge funds own 32.06% of the company’s stock.
About DCP Midstream (NYSE:DCP)
DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas. It operates through the following segments: Logistics and Marketing and Gathering and Processing. The Logistics and Marketing segment includes transporting, trading, marketing and storing natural gas and NGLs and fractionating NGLs.
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