Brokerages Anticipate DCP Midstream LP (DCP) Will Post Earnings of $0.41 Per Share

Wall Street brokerages expect DCP Midstream LP (NYSE:DCP) to post $0.41 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for DCP Midstream’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.49. DCP Midstream posted earnings per share of ($0.08) in the same quarter last year, which would indicate a positive year over year growth rate of 612.5%. The business is expected to issue its next earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that DCP Midstream will report full year earnings of $1.16 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.28. For the next financial year, analysts forecast that the business will report earnings of $2.24 per share, with EPS estimates ranging from $1.05 to $3.01. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover DCP Midstream.

DCP Midstream (NYSE:DCP) last released its quarterly earnings results on Tuesday, August 7th. The pipeline company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.17). DCP Midstream had a return on equity of 3.07% and a net margin of 1.84%. The business had revenue of $2.32 billion for the quarter.

A number of equities analysts recently commented on the stock. Barclays raised their price target on shares of DCP Midstream from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 17th. Citigroup raised their price target on shares of DCP Midstream from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday. US Capital Advisors reiterated an “overweight” rating on shares of DCP Midstream in a research note on Tuesday, July 17th. ValuEngine upgraded shares of DCP Midstream from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, Zacks Investment Research downgraded shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.08.

Institutional investors have recently made changes to their positions in the business. FTB Advisors Inc. acquired a new stake in shares of DCP Midstream in the 2nd quarter valued at approximately $158,000. Russell Investments Group Ltd. acquired a new stake in shares of DCP Midstream in the 2nd quarter valued at approximately $174,000. CIBC Asset Management Inc acquired a new stake in shares of DCP Midstream in the 2nd quarter valued at approximately $209,000. Ferris Capital LLC boosted its stake in shares of DCP Midstream by 190.2% in the 2nd quarter. Ferris Capital LLC now owns 6,222 shares of the pipeline company’s stock valued at $246,000 after purchasing an additional 4,078 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of DCP Midstream by 31.8% in the 1st quarter. LPL Financial LLC now owns 8,698 shares of the pipeline company’s stock valued at $305,000 after purchasing an additional 2,099 shares in the last quarter. Hedge funds and other institutional investors own 54.76% of the company’s stock.

DCP Midstream traded down $0.32, reaching $45.25, during mid-day trading on Friday, Marketbeat Ratings reports. 2,728,985 shares of the company’s stock were exchanged, compared to its average volume of 633,272. DCP Midstream has a one year low of $29.95 and a one year high of $46.67. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 85.38 and a beta of 2.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.56 and a current ratio of 0.68.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 14th. Shareholders of record on Friday, August 3rd will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, August 2nd. This represents a $3.12 dividend on an annualized basis and a yield of 6.90%. DCP Midstream’s payout ratio is 588.68%.

DCP Midstream Company Profile

DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and condensate; and transporting, storing and selling propane in wholesale markets.

Featured Story: Google Finance

Get a free copy of the Zacks research report on DCP Midstream (DCP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for DCP Midstream (NYSE:DCP)

Receive News & Ratings for DCP Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DCP Midstream and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply