DCP Midstream (DCP) Stock Rating Lowered by Zacks Investment Research

DCP Midstream (NYSE:DCP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “DCP Midstream Partners, LP is a midstream master limited partnership that gathers, treats, compresses, processes, transports and markets natural gas and transports and markets natural gas liquids. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by Duke Energy Field Services, a joint venture between Duke Energy and ConocoPhillips. It is a midstream master limited partnership formed by Duke Energy Field Services to own, operate, acquire and develop a diversified portfolio of complementary midstream assets. Supported by its relationship with Duke Energy Field Services and its parents, Duke Energy and ConocoPhillips, it intend to acquire and construct additional assets and have a management team dedicated to executing our growth strategies. “

A number of other research analysts also recently issued reports on DCP. R. F. Lafferty initiated coverage on DCP Midstream in a report on Thursday, October 5th. They set a “buy” rating and a $38.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price target (up from $39.00) on shares of DCP Midstream in a report on Thursday, November 9th. Finally, Credit Suisse Group initiated coverage on DCP Midstream in a report on Thursday, January 4th. They set a “neutral” rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.58.

DCP Midstream (NYSE DCP) traded up $0.61 during trading on Monday, reaching $39.16. The company’s stock had a trading volume of 226,572 shares, compared to its average volume of 410,658. The company has a market capitalization of $5,610.00, a P/E ratio of 55.15 and a beta of 2.10. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.67. DCP Midstream has a twelve month low of $29.70 and a twelve month high of $42.45.

In other news, CEO Kempen Wouter T. Van acquired 750 shares of DCP Midstream stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $1,000.00 per share, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now owns 750 shares in the company, valued at $750,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brent L. Backes acquired 150 shares of DCP Midstream stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $1,000.00 per share, with a total value of $150,000.00. Following the transaction, the vice president now owns 150 shares of the company’s stock, valued at approximately $150,000. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 950 shares of company stock valued at $950,000. 0.04% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Advisory Research Inc. purchased a new stake in DCP Midstream in the second quarter worth about $347,051,000. Alps Advisors Inc. increased its position in DCP Midstream by 11.3% in the third quarter. Alps Advisors Inc. now owns 7,339,101 shares of the pipeline company’s stock worth $254,226,000 after buying an additional 742,319 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in DCP Midstream in the second quarter worth about $246,698,000. Harvest Fund Advisors LLC increased its position in DCP Midstream by 1.4% in the third quarter. Harvest Fund Advisors LLC now owns 4,685,245 shares of the pipeline company’s stock worth $162,297,000 after buying an additional 62,796 shares in the last quarter. Finally, Center Coast Capital Advisors LP increased its position in DCP Midstream by 5.5% in the third quarter. Center Coast Capital Advisors LP now owns 3,530,816 shares of the pipeline company’s stock worth $122,307,000 after buying an additional 184,300 shares in the last quarter. Institutional investors own 54.88% of the company’s stock.

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DCP Midstream Company Profile

DCP Midstream, LP, formerly DCP Midstream Partners, LP, is a producer and marketer of natural gas liquids (NGLs) in the United States. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering, and selling condensate, and transporting, storing and selling propane in wholesale markets.

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