DCP Midstream LP (NYSE:DCP) – Investment analysts at Jefferies Financial Group cut their FY2021 EPS estimates for shares of DCP Midstream in a report issued on Wednesday, July 24th. Jefferies Financial Group analyst C. Sighinolfi now anticipates that the pipeline company will post earnings of $1.64 per share for the year, down from their previous estimate of $1.68. Jefferies Financial Group also issued estimates for DCP Midstream’s FY2022 earnings at $1.68 EPS.
A number of other research analysts have also recently commented on DCP. ValuEngine upgraded shares of WPP from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Citigroup set a $317.00 price target on shares of Mastercard and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Barclays set a $34.00 price target on shares of DCP Midstream and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.80.
DCP Midstream (NYSE:DCP) last announced its quarterly earnings results on Monday, May 6th. The pipeline company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.19). The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. DCP Midstream had a return on equity of 6.75% and a net margin of 3.15%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 EPS.
Several large investors have recently bought and sold shares of DCP. Tortoise Capital Advisors L.L.C. raised its stake in shares of DCP Midstream by 46.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 4,054,364 shares of the pipeline company’s stock valued at $133,997,000 after acquiring an additional 1,293,041 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of DCP Midstream by 17.0% in the first quarter. OppenheimerFunds Inc. now owns 5,679,044 shares of the pipeline company’s stock valued at $187,692,000 after acquiring an additional 826,841 shares during the last quarter. BlackRock Inc. bought a new position in shares of DCP Midstream in the fourth quarter valued at approximately $16,394,000. CIBC Private Wealth Group LLC raised its stake in shares of DCP Midstream by 14.6% in the first quarter. CIBC Private Wealth Group LLC now owns 1,972,006 shares of the pipeline company’s stock valued at $65,174,000 after acquiring an additional 250,925 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of DCP Midstream by 13.3% in the first quarter. JPMorgan Chase & Co. now owns 2,058,227 shares of the pipeline company’s stock valued at $68,025,000 after acquiring an additional 240,890 shares during the last quarter. Institutional investors own 57.19% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 10.57%. The ex-dividend date is Thursday, August 1st. DCP Midstream’s dividend payout ratio (DPR) is currently 202.60%.
About DCP Midstream
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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