DCP Midstream LP (DCP) Shares Sold by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP trimmed its position in DCP Midstream LP (NYSE:DCP) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,124,224 shares of the pipeline company’s stock after selling 385,800 shares during the quarter. DCP Midstream makes up 2.1% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 14th largest position. Kayne Anderson Capital Advisors LP owned about 2.88% of DCP Midstream worth $163,105,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Tortoise Index Solutions LLC boosted its position in shares of DCP Midstream by 16.2% during the 2nd quarter. Tortoise Index Solutions LLC now owns 13,675 shares of the pipeline company’s stock worth $541,000 after acquiring an additional 1,909 shares in the last quarter. FTB Advisors Inc. acquired a new stake in shares of DCP Midstream during the 2nd quarter worth approximately $158,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of DCP Midstream during the 2nd quarter worth approximately $52,925,000. Alps Advisors Inc. boosted its position in shares of DCP Midstream by 5.8% during the 2nd quarter. Alps Advisors Inc. now owns 7,501,769 shares of the pipeline company’s stock worth $296,695,000 after acquiring an additional 412,223 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of DCP Midstream by 12.2% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 664,619 shares of the pipeline company’s stock worth $26,286,000 after acquiring an additional 72,519 shares in the last quarter. 55.41% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on DCP. Stifel Nicolaus upgraded shares of DCP Midstream from a “hold” rating to a “buy” rating and increased their price target for the stock from $42.00 to $51.00 in a research report on Monday. Citigroup increased their price target on shares of DCP Midstream from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. ValuEngine upgraded shares of DCP Midstream from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered shares of DCP Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Finally, US Capital Advisors reiterated an “overweight” rating on shares of DCP Midstream in a research report on Tuesday, July 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.83.

Shares of NYSE:DCP opened at $42.95 on Thursday. The company has a market capitalization of $6.48 billion, a P/E ratio of 81.04 and a beta of 2.35. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. DCP Midstream LP has a one year low of $29.95 and a one year high of $46.67.

DCP Midstream (NYSE:DCP) last issued its quarterly earnings data on Tuesday, August 7th. The pipeline company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.17). The company had revenue of $2.32 billion during the quarter. DCP Midstream had a net margin of 1.84% and a return on equity of 3.07%. research analysts forecast that DCP Midstream LP will post 1.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Friday, August 3rd were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 7.26%. The ex-dividend date of this dividend was Thursday, August 2nd. DCP Midstream’s payout ratio is 588.68%.

About DCP Midstream

DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and condensate; and transporting, storing and selling propane in wholesale markets.

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

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