Driehaus Capital Management LLC acquired a new stake in DCP Midstream LP (NYSE:DCP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 76,390 shares of the pipeline company’s stock, valued at approximately $2,775,000.
Other hedge funds have also made changes to their positions in the company. ING Groep NV boosted its stake in DCP Midstream by 425.4% in the third quarter. ING Groep NV now owns 524,896 shares of the pipeline company’s stock valued at $18,182,000 after acquiring an additional 425,000 shares during the last quarter. Allianz Asset Management GmbH bought a new position in DCP Midstream in the third quarter valued at approximately $1,030,000. Atlantic Trust Group LLC boosted its stake in DCP Midstream by 53.6% in the third quarter. Atlantic Trust Group LLC now owns 517,903 shares of the pipeline company’s stock valued at $17,940,000 after acquiring an additional 180,761 shares during the last quarter. Center Coast Capital Advisors LP boosted its stake 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 valued at $122,307,000 after acquiring an additional 184,300 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in DCP Midstream by 46.9% in the third quarter. JPMorgan Chase & Co. now owns 1,415,243 shares of the pipeline company’s stock valued at $49,251,000 after acquiring an additional 451,592 shares during the last quarter. 56.66% of the stock is currently owned by hedge funds and other institutional investors.
DCP Midstream LP (NYSE DCP) opened at $36.78 on Monday. The firm has a market cap of $5,270.93, a price-to-earnings ratio of 85.53 and a beta of 2.17. DCP Midstream LP has a 52-week low of $29.70 and a 52-week high of $42.79. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.68.
The business also recently disclosed a dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, February 7th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a dividend yield of 0.0189504373177843%. DCP Midstream’s payout ratio is 725.58%.
DCP has been the topic of a number of recent analyst reports. UBS Group reissued a “buy” rating and set a $42.00 price target (down from $46.00) on shares of DCP Midstream in a research report on Friday, March 2nd. Stifel Nicolaus set a $39.00 price target on shares of DCP Midstream and gave the stock a “buy” rating in a research report on Monday, December 18th. Bank of America initiated coverage on shares of DCP Midstream in a research report on Tuesday, January 9th. They set a “buy” rating on the stock. Zacks Investment Research cut shares of DCP Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Goldman Sachs Group raised shares of DCP Midstream from a “sell” rating to a “neutral” rating and set a $48.00 price target on the stock in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. DCP Midstream has an average rating of “Hold” and an average price target of $39.90.
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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.
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