DCP Midstream, LP (NYSE:DCP – Get Rating) shares saw an uptick in trading volume on Monday . 18,774 shares traded hands during mid-day trading, a decline of 97% from the previous session's volume of 674,144 shares.The stock last traded at $37.98 and had previously closed at $37.99.
Analyst Ratings Changes
A number of research firms have recently weighed in on DCP. StockNews.com cut DCP Midstream from a "strong-buy" rating to a "buy" rating in a report on Friday, August 19th. Barclays boosted their price target on DCP Midstream from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, August 16th. Mizuho boosted their price target on DCP Midstream from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. Finally, Royal Bank of Canada downgraded 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. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $38.88.
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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 debt-to-equity ratio of 0.86, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a 50-day moving average price of $35.58 and a 200 day moving average price of $34.13.
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 given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Thursday, July 28th. DCP Midstream's dividend payout ratio is currently 46.36%.Insider Buying and Selling at DCP Midstream
In other news, Director Clifford Todd Denton sold 2,750 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $107,882.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On DCP Midstream
Several institutional investors and hedge funds have recently modified their holdings of DCP. Wells Fargo & Company MN lifted its stake in shares of DCP Midstream by 7.3% in the second quarter. Wells Fargo & Company MN now owns 1,093,732 shares of the pipeline company's stock worth $32,353,000 after acquiring an additional 74,069 shares in the last quarter. Natixis lifted its stake in shares of DCP Midstream by 209.3% in the second quarter. Natixis now owns 675,200 shares of the pipeline company's stock worth $19,972,000 after acquiring an additional 456,900 shares in the last quarter. LPL Financial LLC lifted its stake in shares of DCP Midstream by 8.7% in the second quarter. LPL Financial LLC now owns 38,436 shares of the pipeline company's stock worth $1,137,000 after acquiring an additional 3,084 shares in the last quarter. UBS Group AG lifted its stake in shares of DCP Midstream by 23.5% in the second quarter. UBS Group AG now owns 1,611,273 shares of the pipeline company's stock worth $47,661,000 after acquiring an additional 306,666 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of DCP Midstream by 3.3% in the second quarter. JPMorgan Chase & Co. now owns 3,131,935 shares of the pipeline company's stock worth $92,643,000 after acquiring an additional 100,696 shares in 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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