DCP Midstream (NYSE:DCP) PT Raised to $45.00 at Mizuho

DCP Midstream (NYSE:DCP – Get Rating) had its target price increased by equities researchers at Mizuho from $44.00 to $45.00 in a report released on Thursday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Mizuho’s price target indicates a potential upside of 34.77% from the stock’s current price.

DCP has been the topic of several other reports. Raymond James boosted their target price on DCP Midstream from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 20th. StockNews.com upgraded DCP Midstream from a “hold” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada upgraded DCP Midstream from a “sector perform” rating to an “outperform” rating and lowered their target price for the company from $47.00 to $40.00 in a research note on Tuesday, July 12th. Finally, Barclays reduced their price target on DCP Midstream from $43.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DCP Midstream currently has an average rating of “Buy” and an average target price of $38.11.

DCP Midstream Stock Performance

Shares of DCP Midstream stock opened at $33.39 on Thursday. The business’s fifty day simple moving average is $32.30 and its 200 day simple moving average is $32.55. The firm has a market capitalization of $6.96 billion, a P/E ratio of 9.00 and a beta of 2.84. DCP Midstream has a 12 month low of $23.58 and a 12 month high of $39.54. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.95.

DCP Midstream (NYSE:DCP – Get Rating) last issued its earnings results on Wednesday, May 4th. The pipeline company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.46 billion. DCP Midstream had a net margin of 5.97% and a return on equity of 16.63%. The business’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. As a group, analysts anticipate that DCP Midstream will post 3.49 EPS for the current year.

Hedge Funds Weigh In On DCP Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DCP. Tcwp LLC purchased a new position in DCP Midstream during the first quarter worth about $25,000. UMB Bank N A MO purchased a new position in DCP Midstream during the fourth quarter worth about $30,000. Farmers & Merchants Investments Inc. purchased a new position in DCP Midstream during the first quarter worth about $30,000. Loomis Sayles & Co. L P purchased a new position in shares of DCP Midstream in the 1st quarter worth about $48,000. Finally, CWM LLC purchased a new position in shares of DCP Midstream in the 4th quarter worth about $65,000. 33.25% of the stock is currently owned by hedge funds and other institutional investors.

DCP Midstream Company Profile

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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.