DCP Midstream, LP (NYSE:DCP) Given Consensus Recommendation of “Buy” by Brokerages

Shares of DCP Midstream, LP (NYSE:DCPGet Rating) have been assigned an average recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $35.55.

Several research firms recently commented on DCP. StockNews.com began coverage on DCP Midstream in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research raised shares of DCP Midstream from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, March 29th. Barclays dropped their price target on shares of DCP Midstream from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, January 20th. Raymond James increased their price objective on shares of DCP Midstream from $39.00 to $40.00 and gave the company a “strong-buy” rating in a research note on Friday, February 11th. Finally, Mizuho increased their price objective on shares of DCP Midstream from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, April 8th.

DCP Midstream stock traded up $0.55 during trading on Friday, reaching $36.33. 33,718 shares of the company’s stock were exchanged, compared to its average volume of 667,220. The company’s 50-day moving average is $32.24 and its two-hundred day moving average is $30.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.83 and a current ratio of 0.87. DCP Midstream has a 52-week low of $21.71 and a 52-week high of $36.71. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 22.50 and a beta of 3.18.

DCP Midstream (NYSE:DCPGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The pipeline company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $5.31 billion. DCP Midstream had a return on equity of 5.70% and a net margin of 3.65%. During the same period in the previous year, the company posted $0.34 EPS. Analysts anticipate that DCP Midstream will post 3.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 14th. Stockholders of record on Friday, February 4th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Thursday, February 3rd. DCP Midstream’s dividend payout ratio (DPR) is presently 98.11%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Capital Advisors Group LLC. acquired a new stake in shares of DCP Midstream in the 4th quarter worth about $1,002,000. Vident Investment Advisory LLC grew its holdings in DCP Midstream by 10.5% in the 4th quarter. Vident Investment Advisory LLC now owns 73,158 shares of the pipeline company’s stock worth $2,010,000 after buying an additional 6,938 shares in the last quarter. Wells Fargo & Company MN grew its holdings in DCP Midstream by 73.2% in the 4th quarter. Wells Fargo & Company MN now owns 910,966 shares of the pipeline company’s stock worth $25,034,000 after buying an additional 385,096 shares in the last quarter. Deutsche Bank AG grew its holdings in DCP Midstream by 29.6% in the 4th quarter. Deutsche Bank AG now owns 1,366,570 shares of the pipeline company’s stock worth $37,553,000 after buying an additional 311,761 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in DCP Midstream by 111.6% in the 4th quarter. Advisors Asset Management Inc. now owns 26,624 shares of the pipeline company’s stock worth $732,000 after buying an additional 14,044 shares in the last quarter. 32.95% of the stock is currently owned by institutional investors and hedge funds.

About DCP Midstream (Get Rating)

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.

Featured Articles

Analyst Recommendations 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.