Traders Buy Shares of DCP Midstream (DCP) on Weakness

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Traders purchased shares of DCP Midstream LP (NYSE:DCP) on weakness during trading hours on Friday. $76.46 million flowed into the stock on the tick-up and $8.81 million flowed out of the stock on the tick-down, for a money net flow of $67.65 million into the stock. Of all equities tracked, DCP Midstream had the 11th highest net in-flow for the day. DCP Midstream traded down ($0.32) for the day and closed at $45.25

DCP has been the subject of a number of research analyst reports. ValuEngine upgraded DCP Midstream from a “sell” rating to a “hold” rating in a report on Wednesday, May 16th. Barclays lifted their price objective on DCP Midstream from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 17th. Stifel Nicolaus cut DCP Midstream from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research note on Wednesday, June 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded DCP Midstream from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Wednesday, July 18th. Finally, US Capital Advisors reiterated an “overweight” rating on shares of DCP Midstream in a research note on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.08.

The company has a quick ratio of 0.56, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. The company has a market cap of $6.53 billion, a PE ratio of 268.06 and a beta of 2.35.

DCP Midstream (NYSE:DCP) last announced its quarterly earnings data on Tuesday, August 7th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.17). The company had revenue of $2.32 billion during the quarter. DCP Midstream had a net margin of 1.84% and a return on equity of 3.07%. analysts expect that DCP Midstream LP will post 1.16 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 14th. Stockholders of record on Friday, August 3rd will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 6.90%. The ex-dividend date of this dividend is Thursday, August 2nd. DCP Midstream’s dividend payout ratio (DPR) is presently 588.68%.

Several hedge funds and other institutional investors have recently modified their holdings of DCP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of DCP Midstream during the 2nd quarter worth about $52,925,000. Summit Trail Advisors LLC raised its position in shares of DCP Midstream by 5,069.2% during the 1st quarter. Summit Trail Advisors LLC now owns 1,002,729 shares of the pipeline company’s stock worth $1,003,000 after acquiring an additional 983,331 shares in the last quarter. Alps Advisors Inc. raised its position in shares of DCP Midstream by 5.9% during the 2nd quarter. Alps Advisors Inc. now owns 7,510,182 shares of the pipeline company’s stock worth $272,845,000 after acquiring an additional 420,636 shares in the last quarter. Northwestern Mutual Investment Management Company LLC acquired a new stake in shares of DCP Midstream during the 1st quarter worth about $9,727,000. Finally, Wells Fargo & Company MN raised its position in shares of DCP Midstream by 88.4% during the 2nd quarter. Wells Fargo & Company MN now owns 525,364 shares of the pipeline company’s stock worth $20,778,000 after acquiring an additional 246,539 shares in the last quarter. 54.76% of the stock is currently owned by institutional investors and hedge funds.

DCP Midstream Company Profile

DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and condensate; and transporting, storing and selling propane in wholesale markets.

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