Shares of DCP Midstream, LP (NYSE:DCP – Get Rating) saw strong trading volume on Friday . 9,859 shares were traded during trading, a decline of 97% from the previous session's volume of 379,807 shares.The stock last traded at $38.01 and had previously closed at $38.40.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of DCP Midstream from a "strong-buy" rating to a "buy" rating in a report on Friday. Mizuho lifted their price target on shares of DCP Midstream from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, August 4th. Barclays lifted their price target on shares of DCP Midstream from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, August 16th. Finally, Royal Bank of Canada lowered shares of DCP Midstream from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $41.00 to $38.00 in a report on Thursday. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $38.88.
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DCP Midstream Stock Down 0.6 %
The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 10.29 and a beta of 2.84. 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's 50-day moving average price is $31.84 and its 200-day moving average price is $33.03.
DCP Midstream Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.50%. DCP Midstream's dividend payout ratio (DPR) is currently 46.36%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of DCP Midstream by 1.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 27,000 shares of the pipeline company's stock worth $906,000 after purchasing an additional 300 shares during the period. Cetera Investment Advisers lifted its position in shares of DCP Midstream by 1.7% during the 4th quarter. Cetera Investment Advisers now owns 22,364 shares of the pipeline company's stock valued at $615,000 after acquiring an additional 367 shares during the period. Royal Bank of Canada lifted its position in shares of DCP Midstream by 0.7% during the 1st quarter. Royal Bank of Canada now owns 77,192 shares of the pipeline company's stock valued at $2,591,000 after acquiring an additional 512 shares during the period. Moors & Cabot Inc. lifted its position in shares of DCP Midstream by 9.0% during the 2nd quarter. Moors & Cabot Inc. now owns 8,451 shares of the pipeline company's stock valued at $250,000 after acquiring an additional 700 shares during the period. Finally, Tcwp LLC acquired a new position in shares of DCP Midstream during the 1st quarter valued at $25,000. Institutional investors and hedge funds own 33.25% of the company's stock.
DCP Midstream Company Profile
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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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