Analysts at Credit Suisse Group began coverage on shares of DCP Midstream (NYSE:DCP) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set a “neutral” rating and a $36.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target points to a potential downside of 6.10% from the company’s previous close.
Several other research analysts have also recently weighed in on DCP. R. F. Lafferty started coverage on shares of DCP Midstream in a report on Thursday, October 5th. They issued a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research cut shares of DCP Midstream from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 price target (up previously from $39.00) on shares of DCP Midstream in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $38.58.
Shares of DCP Midstream (NYSE:DCP) traded down $0.89 during mid-day trading on Thursday, reaching $38.34. 546,705 shares of the company’s stock were exchanged, compared to its average volume of 401,324. The company has a market cap of $5,490.00, a PE ratio of 54.00 and a beta of 2.10. DCP Midstream has a 1-year low of $29.70 and a 1-year high of $42.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.73 and a quick ratio of 0.70.
A number of large investors have recently made changes to their positions in the stock. Advisory Research Inc. purchased a new position in DCP Midstream in the second quarter worth $347,051,000. Alps Advisors Inc. grew its position in DCP Midstream by 11.3% in the third quarter. Alps Advisors Inc. now owns 7,339,101 shares of the pipeline company’s stock worth $254,226,000 after acquiring an additional 742,319 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in DCP Midstream in the second quarter worth $246,698,000. Harvest Fund Advisors LLC grew its position in 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 worth $162,297,000 after acquiring an additional 62,796 shares in the last quarter. Finally, Center Coast Capital Advisors LP grew its position in DCP Midstream by 5.5% in the third quarter. Center Coast Capital Advisors LP now owns 3,530,816 shares of the pipeline company’s stock worth $122,307,000 after acquiring an additional 184,300 shares in the last quarter. Institutional investors own 54.88% of the company’s stock.
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.
