Moody National Bank Trust Division decreased its stake in DCP Midstream, LP (NYSE:DCP – Get Rating) by 46.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,775 shares of the pipeline company's stock after selling 6,800 shares during the period. Moody National Bank Trust Division's holdings in DCP Midstream were worth $230,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Cbre Investment Management Listed Real Assets LLC lifted its holdings 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 last quarter. Cetera Investment Advisers lifted its holdings in shares of DCP Midstream by 1.7% in the 4th quarter. Cetera Investment Advisers now owns 22,364 shares of the pipeline company's stock worth $615,000 after purchasing an additional 367 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of DCP Midstream by 0.7% in the 1st quarter. Royal Bank of Canada now owns 77,192 shares of the pipeline company's stock worth $2,591,000 after purchasing an additional 512 shares during the last quarter. Tcwp LLC acquired a new stake in DCP Midstream in the 1st quarter valued at approximately $25,000. Finally, Van ECK Associates Corp increased its position in DCP Midstream by 9.9% in the 1st quarter. Van ECK Associates Corp now owns 8,928 shares of the pipeline company's stock valued at $300,000 after acquiring an additional 802 shares during the period. Institutional investors own 35.49% of the company's stock.
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Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Barclays raised their target price on DCP Midstream from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, August 16th. Mizuho raised their target price on DCP Midstream from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Royal Bank of Canada cut DCP Midstream from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $41.00 to $38.00 in a research report on Thursday, August 18th. Finally, StockNews.com cut DCP Midstream from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 19th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, DCP Midstream currently has an average rating of "Buy" and a consensus target price of $38.88.
DCP Midstream Stock Performance
DCP opened at $38.68 on Wednesday. The firm has a market cap of $8.06 billion, a PE ratio of 10.43 and a beta of 2.75. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $35.58 and a 200-day simple moving average of $34.13. DCP Midstream, LP has a fifty-two week low of $23.58 and a fifty-two week high of $39.54.
DCP Midstream Cuts Dividend
The business 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. This represents a $1.72 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Thursday, July 28th. DCP Midstream's dividend payout ratio is presently 46.36%.
Insider Transactions at DCP Midstream
In other news, Director Clifford Todd Denton sold 2,750 shares of the firm's stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $39.23, for a total transaction of $107,882.50. Following the completion of the sale, the director now directly owns 2,750 shares of the company's stock, valued at approximately $107,882.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.10% 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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