DCP Midstream (NYSE:DCP) Given New $24.00 Price Target at Raymond James

DCP Midstream (NYSE:DCP) had its price target decreased by Raymond James from $28.00 to $24.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the pipeline company’s stock.

Several other equities research analysts have also recently issued reports on the stock. SunTrust Banks began coverage on shares of DCP Midstream in a report on Friday, December 13th. They issued a hold rating and a $26.00 target price on the stock. Zacks Investment Research cut shares of DCP Midstream from a buy rating to a hold rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $29.00.

DCP stock traded up $0.11 on Thursday, hitting $20.30. The company had a trading volume of 712,391 shares, compared to its average volume of 887,245. DCP Midstream has a 12-month low of $19.77 and a 12-month high of $34.15. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.87. The stock’s 50-day simple moving average is $23.57 and its 200 day simple moving average is $24.27. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -27.43, a P/E/G ratio of 8.48 and a beta of 2.09.

DCP Midstream (NYSE:DCP) last issued its earnings results on Tuesday, February 11th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.43). DCP Midstream had a return on equity of 7.41% and a net margin of 1.32%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Research analysts forecast that DCP Midstream will post 0.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 15.37%. The ex-dividend date of this dividend is Friday, January 31st. DCP Midstream’s dividend payout ratio is presently 202.60%.

Institutional investors have recently modified their holdings of the company. Evoke Wealth LLC purchased a new position in shares of DCP Midstream during the 3rd quarter worth $31,000. Oppenheimer Asset Management Inc. purchased a new position in shares of DCP Midstream during the 4th quarter worth $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of DCP Midstream by 131.9% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,795 shares of the pipeline company’s stock worth $43,000 after acquiring an additional 1,021 shares during the last quarter. CWM LLC boosted its stake in shares of DCP Midstream by 47.0% during the 4th quarter. CWM LLC now owns 6,533 shares of the pipeline company’s stock worth $160,000 after acquiring an additional 2,088 shares during the last quarter. Finally, Vestcor Investment Management Corp purchased a new position in shares of DCP Midstream during the 4th quarter worth $180,000. Institutional investors and hedge funds own 53.74% 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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