DCP Midstream, LP (NYSE:DCP – Get Rating) has been assigned a consensus recommendation of "Buy" from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $38.88.
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada downgraded shares of DCP Midstream from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $41.00 to $38.00 in a research note on Thursday, August 18th. Barclays raised their price target on shares of DCP Midstream from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 16th. StockNews.com upgraded shares of DCP Midstream from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Mizuho raised their price objective 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.
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DCP Midstream Stock Performance
NYSE:DCP opened at $37.36 on Friday. The company's 50-day moving average price is $36.39 and its 200-day moving average price is $34.29. 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 company has a market cap of $7.79 billion, a P/E ratio of 10.07 and a beta of 2.75. DCP Midstream has a twelve month low of $23.58 and a twelve month high of $39.54.
DCP Midstream Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend was Thursday, July 28th. DCP Midstream's dividend payout ratio is presently 46.36%.
Insider Buying and Selling at DCP Midstream
In other DCP Midstream news, Director Clifford Todd Denton sold 2,750 shares of DCP Midstream stock in a transaction dated Tuesday, August 23rd. The shares were 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 in the company, valued at $107,882.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.10% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Securian Asset Management Inc. boosted its stake in shares of DCP Midstream by 3.4% in the first quarter. Securian Asset Management Inc. now owns 142,849 shares of the pipeline company's stock valued at $4,794,000 after purchasing an additional 4,700 shares during the period. Wealth Alliance purchased a new position in DCP Midstream in the first quarter worth approximately $234,000. SG Americas Securities LLC lifted its stake in DCP Midstream by 9.8% in the first quarter. SG Americas Securities LLC now owns 22,161 shares of the pipeline company's stock worth $744,000 after acquiring an additional 1,974 shares during the last quarter. Albert D Mason Inc. purchased a new position in DCP Midstream in the first quarter worth approximately $202,000. Finally, Eagle Global Advisors LLC lifted its stake in DCP Midstream by 18.6% in the first quarter. Eagle Global Advisors LLC now owns 654,106 shares of the pipeline company's stock worth $21,952,000 after acquiring an additional 102,436 shares during the last quarter. Hedge funds and other institutional investors own 35.49% of the company's stock.
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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