US Capital Advisors Comments on DCP Midstream, LP’s Q2 2023 Earnings (NYSE:DCP)

DCP Midstream, LP (NYSE:DCP – Get Rating) – Research analysts at US Capital Advisors issued their Q2 2023 earnings per share estimates for DCP Midstream in a note issued to investors on Monday, April 25th. US Capital Advisors analyst J. Carreker forecasts that the pipeline company will post earnings of $1.13 per share for the quarter. US Capital Advisors also issued estimates for DCP Midstream’s FY2024 earnings at $3.86 EPS.

DCP Midstream (NYSE:DCP – Get Rating) last released its quarterly earnings data on Wednesday, February 9th. The pipeline company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. DCP Midstream had a net margin of 3.65% and a return on equity of 5.70%. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share.

Several other research firms have also issued reports on DCP. Citigroup increased their price objective on shares of DCP Midstream from $34.00 to $36.00 in a research report on Tuesday, January 18th. Raymond James upped their target price on shares of DCP Midstream from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 20th. Barclays decreased their target price on shares of DCP Midstream from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, January 20th. Zacks Investment Research upgraded shares of DCP Midstream from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research note on Tuesday, March 29th. Finally, StockNews.com began coverage on shares of DCP Midstream in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $36.00.

DCP Midstream stock opened at $34.69 on Wednesday. DCP Midstream has a 52-week low of $22.36 and a 52-week high of $39.54. The firm has a fifty day moving average of $33.39 and a 200-day moving average of $30.52. The firm has a market capitalization of $7.23 billion, a P/E ratio of 21.82 and a beta of 3.18. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.99.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $1.56 dividend on an annualized basis and a yield of 4.50%. DCP Midstream’s dividend payout ratio (DPR) is 98.11%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank N A MO bought a new position in shares of DCP Midstream in the 4th quarter worth about $30,000. Farmers & Merchants Investments Inc. bought a new position in shares of DCP Midstream in the 1st quarter worth about $30,000. CWM LLC bought a new position in shares of DCP Midstream in the 4th quarter worth about $65,000. Albert D Mason Inc. bought a new position in shares of DCP Midstream in the 1st quarter worth about $202,000. Finally, Van ECK Associates Corp lifted its position in shares of DCP Midstream by 5.6% in the 4th quarter. Van ECK Associates Corp now owns 8,126 shares of the pipeline company’s stock worth $223,000 after buying an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 32.95% of the company’s stock.

DCP Midstream Company Profile (Get Rating)

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 through 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); and fractionating NGLs.

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