DCP Midstream (DCP) Downgraded to “Neutral” at Bank of America

DCP Midstream (NYSE:DCP) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut DCP Midstream from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. R. F. Lafferty initiated coverage on DCP Midstream in a report on Thursday, October 5th. They issued a “buy” rating and a $38.00 target price for the company. Stifel Nicolaus set a $39.00 target price on DCP Midstream and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Credit Suisse Group assumed coverage on DCP Midstream in a research report on Thursday, January 4th. They issued a “neutral” rating and a $36.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.18.

DCP Midstream (NYSE DCP) opened at $41.99 on Tuesday. DCP Midstream has a 1-year low of $29.70 and a 1-year high of $42.45. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $5,865.67, a price-to-earnings ratio of 59.14 and a beta of 2.10.

DCP Midstream (NYSE:DCP) last posted its quarterly earnings data on Tuesday, November 7th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.20). DCP Midstream had a net margin of 3.74% and a return on equity of 4.47%. equities analysts expect that DCP Midstream will post 0.74 earnings per share for the current year.

In other DCP Midstream news, insider Don Baldridge bought 50 shares of DCP Midstream stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of $1,000.00 per share, with a total value of $50,000.00. Following the transaction, the insider now directly owns 50 shares of the company’s stock, valued at approximately $50,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kempen Wouter T. Van bought 750 shares of DCP Midstream stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $1,000.00 per share, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 750 shares in the company, valued at $750,000. The disclosure for this purchase can be found here. Over the last three months, insiders bought 950 shares of company stock valued at $950,000. Corporate insiders own 0.04% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Advisory Research Inc. acquired a new position in shares of DCP Midstream in the second quarter valued at about $347,051,000. Alps Advisors Inc. increased its holdings in shares of DCP Midstream by 11.3% in the third quarter. Alps Advisors Inc. now owns 7,339,101 shares of the pipeline company’s stock valued at $254,226,000 after purchasing an additional 742,319 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of DCP Midstream in the second quarter valued at about $246,698,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of DCP Midstream in the second quarter valued at about $239,264,000. Finally, Harvest Fund Advisors LLC increased its holdings in shares of DCP Midstream by 1.4% in the third quarter. Harvest Fund Advisors LLC now owns 4,685,245 shares of the pipeline company’s stock valued at $162,297,000 after purchasing an additional 62,796 shares during the period. 54.96% of the stock is currently owned by institutional investors.

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About DCP Midstream

DCP Midstream, LP, formerly DCP Midstream Partners, LP, is a producer and marketer of natural gas liquids (NGLs) in the United States. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering, and selling condensate, and transporting, storing and selling propane in wholesale markets.

The Fly

Analyst Recommendations for DCP Midstream (NYSE:DCP)

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