Bank of America set a $46.00 price target on DCP Midstream (NYSE:DCP) in a research report report published on Wednesday, Marketbeat.com reports. The brokerage currently has a buy rating on the pipeline company’s stock.
Several other research analysts also recently issued reports on the company. Wells Fargo & Co cut their price target on DCP Midstream from $44.00 to $40.00 and set a market perform rating for the company in a research note on Monday, September 24th. ValuEngine downgraded DCP Midstream from a buy rating to a hold rating in a research note on Tuesday, September 4th. Barclays set a $41.00 price target on DCP Midstream and gave the stock a sell rating in a research note on Friday, October 12th. Credit Suisse Group began coverage on DCP Midstream in a research note on Thursday, October 11th. They set an outperform rating and a $57.00 price target for the company. Finally, Morgan Stanley lifted their price target on DCP Midstream from $39.00 to $42.00 and gave the stock an underweight rating in a research note on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $45.55.
DCP Midstream stock traded down $0.11 during midday trading on Wednesday, reaching $40.60. The company’s stock had a trading volume of 51,832 shares, compared to its average volume of 571,031. DCP Midstream has a fifty-two week low of $32.33 and a fifty-two week high of $46.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.65 and a current ratio of 0.68. The company has a market cap of $5.51 billion, a P/E ratio of 76.23 and a beta of 2.27.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Friday, November 2nd will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 7.68%. The ex-dividend date of this dividend is Thursday, November 1st. DCP Midstream’s dividend payout ratio (DPR) is presently 588.68%.
Large investors have recently added to or reduced their stakes in the company. FTB Advisors Inc. acquired a new position in shares of DCP Midstream during the 2nd quarter worth $158,000. Russell Investments Group Ltd. purchased a new stake in DCP Midstream during the 2nd quarter worth about $174,000. CIBC Asset Management Inc purchased a new stake in DCP Midstream during the 2nd quarter worth about $209,000. Advisors Asset Management Inc. purchased a new stake in DCP Midstream during the 2nd quarter worth about $212,000. Finally, Ferris Capital LLC increased 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 purchasing an additional 4,078 shares in the last quarter. 55.17% of the stock is owned by institutional investors and hedge funds.
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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