DCP Midstream (NYSE:DCP) had its price objective cut by Credit Suisse Group from $39.00 to $32.00 in a report released on Wednesday morning, The Fly reports. They currently have an outperform rating on the pipeline company’s stock.
Other equities research analysts have also issued reports about the stock. Citigroup set a $31.00 price objective on shares of DCP Midstream and gave the stock a hold rating in a research report on Friday, July 19th. Royal Bank of Canada set a $26.00 price objective on shares of DCP Midstream and gave the stock a hold rating in a research report on Friday, August 9th. Barclays set a $34.00 price objective on shares of DCP Midstream and gave the stock a hold rating in a research report on Wednesday, May 22nd. Finally, ValuEngine downgraded shares of DCP Midstream from a hold rating to a sell rating in a research note on Wednesday, June 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $35.50.
DCP Midstream stock opened at $25.18 on Wednesday. DCP Midstream has a 52 week low of $24.05 and a 52 week high of $43.84. The company has a quick ratio of 0.43, a current ratio of 0.46 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $28.78 and its 200 day simple moving average is $30.92. The firm has a market capitalization of $3.52 billion, a PE ratio of 12.54, a P/E/G ratio of 9.89 and a beta of 2.08.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 12.39%. The ex-dividend date was Thursday, August 1st. DCP Midstream’s payout ratio is 202.60%.
In other news, Director Fred J. Fowler bought 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $24.72 per share, with a total value of $148,320.00. Following the purchase, the director now owns 32,800 shares of the company’s stock, valued at approximately $810,816. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. acquired a new position in shares of DCP Midstream during the 2nd quarter valued at about $73,000. Icon Wealth Partners LLC acquired a new position in shares of DCP Midstream during the 1st quarter valued at about $116,000. CWM LLC increased its stake in shares of DCP Midstream by 1,376.7% during the 2nd quarter. CWM LLC now owns 4,445 shares of the pipeline company’s stock valued at $130,000 after acquiring an additional 4,144 shares during the last quarter. Diversified Trust Co acquired a new position in shares of DCP Midstream during the 2nd quarter valued at about $203,000. Finally, American National Insurance Co. TX acquired a new position in shares of DCP Midstream during the 1st quarter valued at about $231,000. 57.20% of the stock is owned by hedge funds and other institutional investors.
DCP Midstream Company 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, 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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