DCP Midstream (NYSE:DCP) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of DCP Midstream (NYSE:DCP) from a sell rating to a hold rating in a research note issued to investors on Wednesday, ValuEngine reports.

DCP has been the topic of a number of other research reports. UBS Group lowered their price target on DCP Midstream from $33.00 to $32.00 and set a buy rating on the stock in a research report on Monday, September 23rd. Royal Bank of Canada set a $26.00 price target on DCP Midstream and gave the stock a hold rating in a research report on Friday, August 9th. Citigroup lowered their price target on DCP Midstream from $34.00 to $31.00 and set a neutral rating on the stock in a research report on Monday, September 9th. Finally, Credit Suisse Group lowered their price target on DCP Midstream from $39.00 to $32.00 and set an outperform rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $34.70.

DCP Midstream stock traded down $0.05 during midday trading on Wednesday, hitting $26.06. 338,664 shares of the company were exchanged, compared to its average volume of 1,204,820. The firm has a market capitalization of $3.74 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 10.32 and a beta of 2.13. DCP Midstream has a fifty-two week low of $23.46 and a fifty-two week high of $43.84. The business has a fifty day simple moving average of $25.63 and a two-hundred day simple moving average of $29.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.43 and a current ratio of 0.46.

DCP Midstream (NYSE:DCP) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.26 by $0.17. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.53 billion. DCP Midstream had a return on equity of 7.72% and a net margin of 3.94%. During the same period last year, the company earned $0.07 earnings per share. As a group, equities analysts expect that DCP Midstream will post 1.26 earnings per share for the current year.

In other DCP Midstream news, Director Fred J. Fowler purchased 6,000 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average price of $24.72 per share, for a total transaction of $148,320.00. Following the completion of the transaction, the director now owns 32,800 shares of the company’s stock, valued at approximately $810,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted 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 acquiring an additional 8,638,608 shares in the last quarter. OppenheimerFunds Inc. lifted its position 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 in the last quarter. Tortoise Capital Advisors L.L.C. lifted 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 acquiring an additional 1,332,625 shares in the last quarter. Brookfield Asset Management Inc. lifted its position in shares of DCP Midstream by 3.4% in the second quarter. Brookfield Asset Management Inc. now owns 2,843,778 shares of the pipeline company’s stock valued at $83,323,000 after acquiring an additional 94,708 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of DCP Midstream by 11.4% in the second quarter. CIBC Private Wealth Group LLC now owns 2,196,945 shares of the pipeline company’s stock valued at $64,370,000 after acquiring an additional 224,939 shares in the last quarter. Institutional investors and hedge funds own 58.62% of the company’s stock.

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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Analyst Recommendations for DCP Midstream (NYSE:DCP)

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