CIBC Asset Management Inc Acquires New Position in DCP Midstream LP (DCP)

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CIBC Asset Management Inc acquired a new stake in shares of DCP Midstream LP (NYSE:DCP) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,293 shares of the pipeline company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Perella Weinberg Partners Capital Management LP purchased a new stake in shares of DCP Midstream in the 2nd quarter valued at approximately $3,456,000. Cadence Capital Management LLC grew its stake in shares of DCP Midstream by 20.5% in the 2nd quarter. Cadence Capital Management LLC now owns 118,390 shares of the pipeline company’s stock valued at $4,682,000 after buying an additional 20,140 shares during the period. Ballentine Partners LLC grew its stake in shares of DCP Midstream by 13.1% in the 2nd quarter. Ballentine Partners LLC now owns 23,679 shares of the pipeline company’s stock valued at $937,000 after buying an additional 2,739 shares during the period. Summit Trail Advisors LLC grew its stake in shares of DCP Midstream by 66.7% in the 1st quarter. Summit Trail Advisors LLC now owns 32,331 shares of the pipeline company’s stock valued at $1,003,000 after buying an additional 12,933 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of DCP Midstream by 88.4% in the 2nd quarter. Wells Fargo & Company MN now owns 525,364 shares of the pipeline company’s stock valued at $20,778,000 after buying an additional 246,539 shares during the period. 55.15% of the stock is owned by institutional investors.

Shares of DCP stock opened at $40.82 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.65 and a debt-to-equity ratio of 0.67. DCP Midstream LP has a one year low of $31.09 and a one year high of $46.67. The company has a market capitalization of $5.91 billion, a PE ratio of 77.02 and a beta of 2.31.

DCP Midstream (NYSE:DCP) last issued its quarterly earnings data on Tuesday, August 7th. The pipeline company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.17). DCP Midstream had a return on equity of 3.07% and a net margin of 1.84%. The company had revenue of $2.32 billion during the quarter. equities analysts expect that DCP Midstream LP will post 1.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Friday, August 3rd were issued a $0.78 dividend. The ex-dividend date was Thursday, August 2nd. This represents a $3.12 annualized dividend and a dividend yield of 7.64%. DCP Midstream’s dividend payout ratio is currently 588.68%.

Several analysts have recently weighed in on the stock. ValuEngine cut shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research cut shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Goldman Sachs Group upgraded shares of DCP Midstream from a “neutral” rating to a “buy” rating in a report on Tuesday, June 26th. US Capital Advisors restated an “overweight” rating on shares of DCP Midstream in a report on Tuesday, July 17th. Finally, Barclays lowered shares of DCP Midstream from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $46.00 to $39.00 in a report on Tuesday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.91.

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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Institutional Ownership by Quarter for DCP Midstream (NYSE:DCP)

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