BBVA USA Bancshares Inc. Takes Position in DCP Midstream LP (NYSE:DCP)

BBVA USA Bancshares Inc. purchased a new stake in DCP Midstream LP (NYSE:DCP) in the third quarter, HoldingsChannel reports. The firm purchased 36,920 shares of the pipeline company’s stock, valued at approximately $968,000.

Several other hedge funds have also recently made changes to their positions in DCP. Invesco Ltd. increased its position in shares of DCP Midstream by 47,629.8% in the second quarter. Invesco Ltd. now owns 8,656,745 shares of the pipeline company’s stock valued at $253,643,000 after buying an additional 8,638,608 shares in the last quarter. Alps Advisors Inc. increased its position in shares of DCP Midstream by 38.0% in the third quarter. Alps Advisors Inc. now owns 10,863,871 shares of the pipeline company’s stock valued at $284,742,000 after buying an additional 2,989,560 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of DCP Midstream by 32.9% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 5,386,989 shares of the pipeline company’s stock valued at $157,839,000 after buying an additional 1,332,625 shares in the last quarter. Morgan Stanley increased its position in shares of DCP Midstream by 75.2% in the second quarter. Morgan Stanley now owns 1,269,435 shares of the pipeline company’s stock valued at $37,195,000 after buying an additional 544,790 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of DCP Midstream by 107.7% in the second quarter. Bank of Montreal Can now owns 709,988 shares of the pipeline company’s stock valued at $20,803,000 after buying an additional 368,085 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

DCP opened at $22.73 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 0.87. The firm has a market cap of $3.28 billion, a P/E ratio of 12.86, a PEG ratio of 12.31 and a beta of 2.12. DCP Midstream LP has a 52 week low of $22.37 and a 52 week high of $37.37. The business’s fifty day simple moving average is $24.30 and its 200 day simple moving average is $27.65.

DCP Midstream (NYSE:DCP) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.12). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $2.34 billion. DCP Midstream had a net margin of 1.32% and a return on equity of 7.41%. The firm’s revenue was down 38.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, equities analysts expect that DCP Midstream LP will post 0.93 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 13.73%. The ex-dividend date of this dividend was Thursday, October 31st. DCP Midstream’s payout ratio is currently 202.60%.

A number of brokerages have recently weighed in on DCP. Jefferies Financial Group upgraded DCP Midstream from a “hold” rating to a “buy” rating and dropped their price target for the company from $32.00 to $27.00 in a research report on Tuesday, October 15th. ValuEngine upgraded DCP Midstream from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays set a $26.00 price target on DCP Midstream and gave the company a “hold” rating in a research report on Tuesday, October 15th. Royal Bank of Canada set a $26.00 price target on DCP Midstream and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Raymond James dropped their price target on DCP Midstream from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.30.

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

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