StockNews.com upgraded shares of DCP Midstream (NYSE:DCP – Get Rating) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.
Several other equities research analysts also recently weighed in on DCP. Mizuho boosted their target price on shares of DCP Midstream from $44.00 to $45.00 and gave the stock a buy rating in a research report on Thursday, August 4th. Royal Bank of Canada downgraded shares of DCP Midstream from an outperform rating to a sector perform rating and lowered their price objective for the company from $41.00 to $38.00 in a research report on Thursday, August 18th. Finally, Barclays boosted their price objective on shares of DCP Midstream from $38.00 to $40.00 and gave the company an overweight rating in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $38.88.
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DCP Midstream Price Performance
DCP opened at $37.50 on Wednesday. The company has a 50-day moving average of $36.28 and a 200-day moving average of $34.27. The company has a market capitalization of $7.81 billion, a P/E ratio of 10.11 and a beta of 2.75. DCP Midstream has a 1-year low of $23.58 and a 1-year high of $39.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.91.
DCP Midstream Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were paid a $0.43 dividend. The ex-dividend date was Thursday, July 28th. This represents a $1.72 annualized dividend and a dividend yield of 4.59%. DCP Midstream's payout ratio is 46.36%.
Insider Activity
In other news, Director Clifford Todd Denton sold 2,750 shares of the company's stock in a transaction on Tuesday, August 23rd. The stock was 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 owns 2,750 shares in the company, valued at $107,882.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.10% of the company's stock.
Institutional Investors Weigh In On DCP Midstream
Several hedge funds have recently modified their holdings of the stock. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of DCP Midstream by 1.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 27,000 shares of the pipeline company's stock valued at $906,000 after purchasing an additional 300 shares during the last quarter. Cetera Investment Advisers raised its position in DCP Midstream by 1.7% during the fourth quarter. Cetera Investment Advisers now owns 22,364 shares of the pipeline company's stock valued at $615,000 after buying an additional 367 shares during the period. Royal Bank of Canada raised its position in DCP Midstream by 0.7% during the first quarter. Royal Bank of Canada now owns 77,192 shares of the pipeline company's stock valued at $2,591,000 after buying an additional 512 shares during the period. Moors & Cabot Inc. raised its position in DCP Midstream by 9.0% during the second quarter. Moors & Cabot Inc. now owns 8,451 shares of the pipeline company's stock valued at $250,000 after buying an additional 700 shares during the period. Finally, Tcwp LLC acquired a new position in DCP Midstream during the first quarter valued at $25,000. 35.49% of the stock is owned by hedge funds and other institutional investors.
About DCP Midstream
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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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