SG Americas Securities LLC cut its holdings in DCP Midstream LP (NYSE:DCP) by 11.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,820 shares of the pipeline company’s stock after selling 4,394 shares during the period. SG Americas Securities LLC’s holdings in DCP Midstream were worth $1,299,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of DCP. Tortoise Index Solutions LLC lifted its position in DCP Midstream by 16.2% during the 2nd quarter. Tortoise Index Solutions LLC now owns 13,675 shares of the pipeline company’s stock worth $541,000 after acquiring an additional 1,909 shares during the last quarter. Moody Aldrich Partners LLC acquired a new position in DCP Midstream during the 2nd quarter worth $90,134,000. FTB Advisors Inc. acquired a new position in DCP Midstream during the 2nd quarter worth $158,000. Ferris Capital LLC lifted its position in DCP Midstream by 190.2% during the 2nd quarter. Ferris Capital LLC now owns 6,222 shares of the pipeline company’s stock worth $246,000 after acquiring an additional 4,078 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in DCP Midstream during the 2nd quarter worth $174,000. Hedge funds and other institutional investors own 55.14% of the company’s stock.
A number of research firms have weighed in on DCP. Morgan Stanley cut their target price on shares of DCP Midstream from $42.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, November 30th. Citigroup cut their target price on shares of DCP Midstream from $46.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, November 29th. Stifel Nicolaus raised shares of DCP Midstream from a “hold” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $51.00 in a research report on Monday, August 13th. ValuEngine lowered shares of DCP Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Credit Suisse Group began coverage on shares of DCP Midstream in a research report on Thursday, October 11th. They set an “outperform” rating and a $57.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.73.
Shares of DCP opened at $33.02 on Friday. The stock has a market cap of $4.69 billion, a PE ratio of 58.48 and a beta of 2.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.65 and a quick ratio of 0.62. DCP Midstream LP has a 52 week low of $31.50 and a 52 week high of $46.67.
DCP Midstream (NYSE:DCP) last announced its quarterly earnings data on Monday, November 5th. The pipeline company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.23). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $3.16 billion. DCP Midstream had a net margin of 2.76% and a return on equity of 4.18%. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.41) EPS. Equities analysts predict that DCP Midstream LP will post 0.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Friday, November 2nd were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 9.45%. The ex-dividend date was Thursday, November 1st. DCP Midstream’s dividend payout ratio is currently 588.68%.
About DCP Midstream
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 in two segments, Gathering and Processing, and Logistics and Marketing. The Gathering and Processing segment is involved in gathering, compressing, treating, and processing natural gas; producing and fractionating natural gas liquids (NGLs); and recovering condensate.
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