Tortoise Capital Advisors L.L.C. increased its stake in DCP Midstream LP (NYSE:DCP) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,434,325 shares of the pipeline company’s stock after buying an additional 1,202,525 shares during the period. DCP Midstream accounts for 2.9% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 14th largest position. Tortoise Capital Advisors L.L.C. owned approximately 7.28% of DCP Midstream worth $465,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in DCP. Evoke Wealth LLC acquired a new position in shares of DCP Midstream in the 3rd quarter valued at $31,000. Oppenheimer Asset Management Inc. purchased a new position in shares of DCP Midstream in the 4th quarter worth approximately $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of DCP Midstream by 131.9% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,795 shares of the pipeline company’s stock worth $43,000 after buying an additional 1,021 shares during the last quarter. CWM LLC boosted its stake in shares of DCP Midstream by 47.0% in the 4th quarter. CWM LLC now owns 6,533 shares of the pipeline company’s stock worth $160,000 after buying an additional 2,088 shares during the last quarter. Finally, Vestcor Investment Management Corp purchased a new position in shares of DCP Midstream in the 4th quarter worth approximately $180,000. 37.29% of the stock is owned by institutional investors.
Shares of DCP traded up $0.02 during trading hours on Thursday, reaching $4.05. 2,947,950 shares of the stock traded hands, compared to its average volume of 2,023,797. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92. DCP Midstream LP has a 52-week low of $2.20 and a 52-week high of $33.99. The company’s 50-day moving average price is $14.09 and its two-hundred day moving average price is $21.59. The company has a market cap of $887.48 million, a P/E ratio of -3.68 and a beta of 2.19.
DCP Midstream (NYSE:DCP) last released its earnings results on Tuesday, February 11th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.43). The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.31 billion. DCP Midstream had a net margin of 0.22% and a return on equity of 5.57%. On average, research analysts forecast that DCP Midstream LP will post 1.17 EPS for the current year.
In other DCP Midstream news, President Don Baldridge bought 10,000 shares of DCP Midstream stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $6.12 per share, with a total value of $61,200.00. Following the acquisition, the president now owns 20,689 shares in the company, valued at approximately $126,616.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard A. Loving bought 2,275 shares of DCP Midstream stock in a transaction on Wednesday, March 4th. The stock was acquired at an average cost of $14.60 per share, for a total transaction of $33,215.00. Insiders have bought 107,425 shares of company stock valued at $820,863 over the last ninety days. 0.04% of the stock is owned by insiders.
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded DCP Midstream from a “neutral” rating to an “underweight” rating in a research note on Tuesday. Zacks Investment Research cut shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Friday, March 20th. UBS Group cut shares of DCP Midstream from a “buy” rating to a “neutral” rating in a research note on Monday, March 16th. Barclays cut shares of DCP Midstream from an “equal weight” rating to an “underweight” rating in a research note on Tuesday. Finally, ValuEngine cut shares of DCP Midstream from a “hold” rating to a “sell” rating in a research note on Monday, March 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.13.
DCP Midstream Company Profile
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, 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); fractionating NGLs; and wholesale propane logistics.
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