DCP Midstream (DCP) Releases Quarterly Earnings Results, Misses Estimates By $0.19 EPS

DCP Midstream (NYSE:DCP) released its quarterly earnings results on Tuesday. The pipeline company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.19), Bloomberg Earnings reports. DCP Midstream had a return on equity of 4.47% and a net margin of 3.74%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $3.27 billion.

DCP Midstream (NYSE DCP) opened at $39.11 on Wednesday. The stock has a market capitalization of $5,589.08, a price-to-earnings ratio of 55.08 and a beta of 2.15. DCP Midstream has a fifty-two week low of $29.70 and a fifty-two week high of $42.79. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.67.

The business also recently announced a dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, February 7th will be issued a $0.78 dividend. The ex-dividend date is Tuesday, February 6th. This represents a yield of 0.0189504373177843%. DCP Midstream’s dividend payout ratio (DPR) is presently 439.44%.

DCP has been the subject of several research analyst reports. Zacks Investment Research lowered DCP Midstream from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Stifel Nicolaus restated a “buy” rating and set a $40.00 price target (up from $39.00) on shares of DCP Midstream in a research report on Thursday, November 9th. Credit Suisse Group initiated coverage on DCP Midstream in a research report on Thursday, January 4th. They set a “neutral” rating and a $36.00 price target for the company. Bank of America initiated coverage on DCP Midstream in a research report on Tuesday, January 9th. They set a “buy” rating for the company. Finally, Goldman Sachs Group upgraded DCP Midstream from a “sell” rating to a “neutral” rating and set a $48.00 price target for the company in a research report on Thursday, February 1st. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.42.

In related news, CEO Kempen Wouter T. Van bought 750 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $1,000.00 per share, for a total transaction of $750,000.00. Following the completion of the acquisition, the chief executive officer now owns 750 shares in the company, valued at approximately $750,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brent L. Backes bought 150 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $1,000.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the vice president now owns 150 shares of the company’s stock, valued at approximately $150,000. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 950 shares of company stock valued at $950,000. 0.04% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in DCP Midstream stock. The Manufacturers Life Insurance Company bought a new stake in DCP Midstream LP (NYSE:DCP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,530 shares of the pipeline company’s stock, valued at approximately $119,000. 54.32% of the stock is 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.

Earnings History for DCP Midstream (NYSE:DCP)

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