Bank of America Corp DE boosted its position in shares of DCP Midstream, LP (NYSE:DCP – Get Rating) by 181.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 927,060 shares of the pipeline company's stock after buying an additional 597,753 shares during the quarter. Bank of America Corp DE owned approximately 0.44% of DCP Midstream worth $31,112,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DCP. Invesco Ltd. lifted its holdings in DCP Midstream by 1,475.1% during the 1st quarter. Invesco Ltd. now owns 1,512,263 shares of the pipeline company's stock worth $50,752,000 after buying an additional 1,416,254 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of DCP Midstream by 12.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,031,239 shares of the pipeline company's stock valued at $101,728,000 after acquiring an additional 337,227 shares during the last quarter. Chickasaw Capital Management LLC raised its position in shares of DCP Midstream by 11.6% during the 1st quarter. Chickasaw Capital Management LLC now owns 2,971,690 shares of the pipeline company's stock valued at $99,730,000 after acquiring an additional 309,028 shares during the last quarter. Jennison Associates LLC raised its position in shares of DCP Midstream by 31.8% during the 1st quarter. Jennison Associates LLC now owns 1,195,374 shares of the pipeline company's stock valued at $40,117,000 after acquiring an additional 288,534 shares during the last quarter. Finally, ING Groep NV bought a new stake in shares of DCP Midstream during the 1st quarter valued at $8,098,000. Institutional investors and hedge funds own 35.49% of the company's stock.

Insider Transactions at DCP Midstream

In related news, Director Clifford Todd Denton sold 2,750 shares of the firm's stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $39.23, for a total value of $107,882.50. Following the completion of the sale, the director now directly owns 2,750 shares in the company, valued at approximately $107,882.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

DCP Midstream Price Performance

DCP stock opened at $37.57 on Friday. The stock has a 50-day moving average price of $36.65 and a two-hundred day moving average price of $34.40. DCP Midstream, LP has a 1 year low of $23.58 and a 1 year high of $39.54. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The stock has a market cap of $7.83 billion, a PE ratio of 10.13 and a beta of 2.75.

DCP Midstream (NYSE:DCP – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The pipeline company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.63. DCP Midstream had a net margin of 5.97% and a return on equity of 16.34%. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.49 billion. Equities analysts forecast that DCP Midstream, LP will post 3.63 EPS for the current fiscal year.

DCP Midstream Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, July 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.58%. DCP Midstream's dividend payout ratio is 46.36%.

DCP Midstream Company Profile

(Get Rating)

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 through 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); and fractionating NGLs.

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