DCP Midstream (NYSE:DCP) Sets New 1-Year High at $32.55

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.

DCP Midstream (NYSE:DCP) last announced its quarterly earnings results on Wednesday, August 4th. The pipeline company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.79). The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.48 billion. DCP Midstream had a return on equity of 4.74% and a net margin of 2.82%. The business’s revenue was up 63.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 earnings per share. As a group, analysts forecast that DCP Midstream, LP will post 1.36 earnings per share for the current fiscal year.

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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