DCP Midstream (DCP) PT Lowered to $41.00

DCP Midstream (NYSE:DCP) had its price target cut by Morgan Stanley from $42.00 to $41.00 in a report issued on Friday. They currently have an underweight rating on the pipeline company’s stock.

Other research analysts have also recently issued reports about the company. Bank of America set a $46.00 price target on DCP Midstream and gave the stock a buy rating in a report on Wednesday, November 7th. Stifel Nicolaus raised DCP Midstream from a hold rating to a buy rating and boosted their price target for the stock from $42.00 to $51.00 in a report on Monday, August 13th. ValuEngine raised DCP Midstream from a hold rating to a buy rating in a report on Thursday, August 2nd. Wells Fargo & Co lowered their price target on DCP Midstream from $44.00 to $40.00 and set a market perform rating on the stock in a report on Monday, September 24th. Finally, Citigroup boosted their price target on DCP Midstream from $44.00 to $46.00 and gave the stock a neutral rating in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $43.73.

NYSE DCP opened at $35.44 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 0.65. DCP Midstream has a 12 month low of $31.50 and a 12 month high of $46.67. The company has a market capitalization of $4.88 billion, a P/E ratio of 66.77 and a beta of 2.28.

DCP Midstream (NYSE:DCP) last posted its quarterly earnings results on Monday, November 5th. The pipeline company reported $0.18 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 period in the prior year, the firm posted ($0.41) earnings per share. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. As a group, equities analysts forecast that DCP Midstream will post 0.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Friday, November 2nd were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date of this dividend was Thursday, November 1st. DCP Midstream’s payout ratio is 588.68%.

A number of large investors have recently added to or reduced their stakes in DCP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in DCP Midstream in the 2nd quarter worth approximately $52,925,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in DCP Midstream in the 3rd quarter worth approximately $45,536,000. Alps Advisors Inc. increased its stake in DCP Midstream by 6.2% in the 3rd quarter. Alps Advisors Inc. now owns 7,967,645 shares of the pipeline company’s stock worth $315,439,000 after acquiring an additional 465,876 shares during the last quarter. Virtus Alternative Investment Advisers Inc. bought a new stake in DCP Midstream in the 3rd quarter worth approximately $11,323,000. Finally, Morgan Stanley increased its stake in DCP Midstream by 31.6% in the 3rd quarter. Morgan Stanley now owns 1,066,643 shares of the pipeline company’s stock worth $42,229,000 after acquiring an additional 256,104 shares during the last quarter. 55.14% of the stock is currently owned by institutional investors and hedge funds.

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, 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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Analyst Recommendations for DCP Midstream (NYSE:DCP)

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