Tortoise Index Solutions LLC increased its stake in DCP Midstream LP (NYSE:DCP) by 14.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,641 shares of the pipeline company’s stock after buying an additional 1,966 shares during the period. Tortoise Index Solutions LLC’s holdings in DCP Midstream were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of DCP. LPL Financial LLC lifted its position in DCP Midstream by 31.8% in the 1st quarter. LPL Financial LLC now owns 8,698 shares of the pipeline company’s stock valued at $305,000 after acquiring an additional 2,099 shares in the last quarter. Moody Aldrich Partners LLC bought a new position in DCP Midstream in the 2nd quarter valued at approximately $90,134,000. FTB Advisors Inc. bought a new position in DCP Midstream in the 2nd quarter valued at approximately $158,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in DCP Midstream by 19.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 25,000 shares of the pipeline company’s stock valued at $990,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in DCP Midstream by 15.9% in the 1st quarter. Royal Bank of Canada now owns 29,422 shares of the pipeline company’s stock valued at $1,033,000 after acquiring an additional 4,036 shares in the last quarter. Institutional investors own 55.43% of the company’s stock.
Shares of DCP stock opened at $36.25 on Friday. DCP Midstream LP has a 52-week low of $32.58 and a 52-week high of $46.67. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 64.73 and a beta of 2.27.
DCP Midstream (NYSE:DCP) last issued its quarterly earnings results on Monday, November 5th. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.23). DCP Midstream had a return on equity of 4.18% and a net margin of 2.76%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the company posted ($0.41) EPS. The company’s quarterly revenue was up 34.3% on a year-over-year basis. Analysts expect that DCP Midstream LP will post 0.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Friday, November 2nd were paid a $0.78 dividend. The ex-dividend date was Thursday, November 1st. This represents a $3.12 dividend on an annualized basis and a yield of 8.61%. DCP Midstream’s payout ratio is presently 588.68%.
DCP has been the topic of several analyst reports. Citigroup upped their price objective on DCP Midstream from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, July 31st. ValuEngine raised DCP Midstream from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus raised DCP Midstream from a “hold” rating to a “buy” rating and upped their price objective for the company from $42.00 to $51.00 in a research report on Monday, August 13th. Morgan Stanley upped their price objective on DCP Midstream from $39.00 to $42.00 and gave the company an “underweight” rating in a research report on Friday, August 17th. Finally, Wells Fargo & Co lowered their price objective on DCP Midstream from $44.00 to $40.00 and set a “market perform” rating on the stock in a research report on Monday, September 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. DCP Midstream has a consensus rating of “Hold” and an average target price of $45.55.
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DCP Midstream Profile
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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