DCP Midstream (NYSE:DCP) Posts Quarterly Earnings Results, Misses Estimates By $0.65 EPS

DCP Midstream (NYSE:DCPGet Rating) posted its earnings results on Wednesday. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.65), MarketWatch Earnings reports. DCP Midstream had a net margin of 3.55% and a return on equity of 8.94%. The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 45.6% on a year-over-year basis.

Shares of DCP Midstream stock traded up $1.12 during trading hours on Friday, reaching $35.85. 356,074 shares of the company’s stock were exchanged, compared to its average volume of 532,031. DCP Midstream has a 1 year low of $23.58 and a 1 year high of $39.54. The company has a market capitalization of $7.47 billion, a P/E ratio of 20.84 and a beta of 2.94. The business has a fifty day moving average of $34.01 and a two-hundred day moving average of $30.68. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, April 29th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, April 28th. DCP Midstream’s payout ratio is 90.70%.

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of DCP Midstream by 4.0% during the second quarter. Morgan Stanley now owns 1,847,587 shares of the pipeline company’s stock worth $56,703,000 after buying an additional 70,316 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of DCP Midstream by 29.6% in the fourth quarter. Deutsche Bank AG now owns 1,366,570 shares of the pipeline company’s stock valued at $37,553,000 after purchasing an additional 311,761 shares during the period. Wells Fargo & Company MN grew its holdings in shares of DCP Midstream by 73.2% in the fourth quarter. Wells Fargo & Company MN now owns 910,966 shares of the pipeline company’s stock valued at $25,034,000 after purchasing an additional 385,096 shares during the period. Vident Investment Advisory LLC grew its holdings in shares of DCP Midstream by 10.5% in the fourth quarter. Vident Investment Advisory LLC now owns 73,158 shares of the pipeline company’s stock valued at $2,010,000 after purchasing an additional 6,938 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of DCP Midstream by 111.6% in the fourth quarter. Advisors Asset Management Inc. now owns 26,624 shares of the pipeline company’s stock valued at $732,000 after purchasing an additional 14,044 shares during the period. 33.25% of the stock is owned by institutional investors and hedge funds.

DCP has been the subject of several analyst reports. Raymond James boosted 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. Mizuho boosted their price target on shares of DCP Midstream from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Citigroup boosted their price target on shares of DCP Midstream from $34.00 to $36.00 in a report on Tuesday, January 18th. Barclays cut their price target on shares of DCP Midstream from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, January 20th. Finally, Zacks Investment Research raised shares of DCP Midstream from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a report on Tuesday, March 29th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $36.00.

About DCP Midstream (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.

Further Reading

Earnings History for DCP Midstream (NYSE:DCP)

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