DCP Midstream (NYSE:DCP) Reaches New 1-Year Low at $20.40

Shares of DCP Midstream LP (NYSE:DCP) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $20.40 and last traded at $20.78, with a volume of 6361 shares traded. The stock had previously closed at $20.69.

DCP has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded shares of DCP Midstream from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $32.00 to $27.00 in a report on Tuesday, October 15th. UBS Group lowered their target price on DCP Midstream from $33.00 to $32.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Credit Suisse Group lowered their target price on DCP Midstream from $39.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Raymond James dropped their price target on DCP Midstream from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada set a $26.00 price target on DCP Midstream and gave the company a “hold” rating in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $30.22.

The stock’s 50-day moving average price is $22.89 and its 200 day moving average price is $26.74. The firm has a market cap of $3.03 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 11.35 and a beta of 2.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.63 and a quick ratio of 0.59.

DCP Midstream (NYSE:DCP) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.12). DCP Midstream had a net margin of 1.32% and a return on equity of 7.41%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was down 38.4% on a year-over-year basis. As a group, analysts forecast that DCP Midstream LP will post 0.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 15.01%. DCP Midstream’s dividend payout ratio is 202.60%.

Several large investors have recently added to or reduced their stakes in DCP. First Trust Advisors LP grew its stake in DCP Midstream by 12.2% in the second quarter. First Trust Advisors LP now owns 261,510 shares of the pipeline company’s stock valued at $7,662,000 after purchasing an additional 28,411 shares in the last quarter. Cadence Capital Management LLC grew its stake in shares of DCP Midstream by 0.4% in the second quarter. Cadence Capital Management LLC now owns 293,272 shares of the pipeline company’s stock valued at $8,593,000 after buying an additional 1,182 shares in the last quarter. Texas Yale Capital Corp. grew its stake in shares of DCP Midstream by 14.3% in the third quarter. Texas Yale Capital Corp. now owns 48,050 shares of the pipeline company’s stock valued at $1,259,000 after buying an additional 6,000 shares in the last quarter. Dividend Assets Capital LLC increased its holdings in DCP Midstream by 189.2% during the third quarter. Dividend Assets Capital LLC now owns 136,950 shares of the pipeline company’s stock worth $3,589,000 after buying an additional 89,590 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in DCP Midstream during the third quarter worth $750,000. 53.76% of the stock is currently owned by institutional investors and hedge funds.

About DCP Midstream (NYSE:DCP)

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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