Shares of DCP Midstream, LP (NYSE:DCP – Get Rating) have earned an average recommendation of “Buy” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $36.27.
A number of equities analysts have issued reports on the company. Mizuho increased their price objective on DCP Midstream from $41.00 to $44.00 in a report on Monday, May 9th. Zacks Investment Research upgraded DCP Midstream from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a report on Tuesday, March 29th. Evercore ISI upgraded DCP Midstream from an “in-line” rating to an “outperform” rating in a report on Monday, April 4th. StockNews.com downgraded DCP Midstream from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, Raymond James raised their price target on DCP Midstream from $40.00 to $45.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 20th.
A number of large investors have recently made changes to their positions in DCP. Invesco Ltd. boosted its position in DCP Midstream by 1,475.1% in the first quarter. Invesco Ltd. now owns 1,512,263 shares of the pipeline company’s stock worth $50,752,000 after purchasing an additional 1,416,254 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in DCP Midstream by 492.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 631,753 shares of the pipeline company’s stock worth $17,361,000 after purchasing an additional 525,054 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of DCP Midstream by 3.5% during the 4th quarter. Alps Advisors Inc. now owns 11,603,538 shares of the pipeline company’s stock valued at $318,865,000 after buying an additional 391,216 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of DCP Midstream by 73.2% during the 4th quarter. Wells Fargo & Company MN now owns 910,966 shares of the pipeline company’s stock valued at $25,034,000 after buying an additional 385,096 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of DCP Midstream by 12.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,031,239 shares of the pipeline company’s stock valued at $101,728,000 after buying an additional 337,227 shares in the last quarter. 33.25% of the stock is currently owned by institutional investors and hedge funds.
DCP Midstream (NYSE:DCP – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The pipeline company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The business had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.46 billion. DCP Midstream had a return on equity of 8.88% and a net margin of 3.55%. The business’s revenue was up 45.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. Equities research analysts anticipate that DCP Midstream will post 4.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were given a $0.39 dividend. The ex-dividend date was Thursday, April 28th. This represents a $1.56 annualized dividend and a yield of 4.32%. DCP Midstream’s payout ratio is 90.70%.
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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