DCP Midstream LP (NYSE:DCP) – Equities research analysts at US Capital Advisors upped their Q3 2018 EPS estimates for DCP Midstream in a research report issued on Wednesday, October 17th, Zacks Investment Research reports. US Capital Advisors analyst B. Followill now expects that the pipeline company will post earnings per share of $0.44 for the quarter, up from their previous forecast of $0.37. US Capital Advisors currently has a “Overweight” rating on the stock. US Capital Advisors also issued estimates for DCP Midstream’s Q4 2018 earnings at $0.64 EPS and FY2020 earnings at $3.60 EPS.
DCP has been the subject of several other research reports. Citigroup raised their price objective on shares of DCP Midstream from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, August 8th. Bank of America set a $46.00 price objective on shares of DCP Midstream and gave the company a “buy” rating in a research note on Wednesday. ValuEngine lowered shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Zacks Investment Research lowered shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Finally, Barclays set a $41.00 price objective on shares of DCP Midstream and gave the company a “sell” rating in a research note on Friday, October 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.55.
Shares of NYSE:DCP traded down $1.31 during trading hours on Thursday, hitting $38.75. 1,059,511 shares of the company’s stock traded hands, compared to its average volume of 657,268. DCP Midstream has a 52 week low of $32.33 and a 52 week high of $46.67. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.69. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 73.11 and a beta of 2.27.
DCP Midstream (NYSE:DCP) last posted its quarterly earnings data on Monday, November 5th. The pipeline company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.23). DCP Midstream had a net margin of 2.76% and a return on equity of 4.18%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted ($0.41) EPS. The business’s revenue for the quarter was up 34.3% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Friday, November 2nd will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 8.05%. The ex-dividend date is Thursday, November 1st. DCP Midstream’s dividend payout ratio is presently 588.68%.
A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of DCP Midstream by 24.7% in the third quarter. Bank of New York Mellon Corp now owns 16,810 shares of the pipeline company’s stock worth $665,000 after purchasing an additional 3,331 shares in the last quarter. Tortoise Index Solutions LLC lifted its position in shares of DCP Midstream by 14.4% in the third quarter. Tortoise Index Solutions LLC now owns 15,641 shares of the pipeline company’s stock worth $619,000 after purchasing an additional 1,966 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of DCP Midstream by 5.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,417,187 shares of the pipeline company’s stock worth $56,106,000 after purchasing an additional 79,012 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of DCP Midstream by 19.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 25,000 shares of the pipeline company’s stock worth $990,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of DCP Midstream in the third quarter worth approximately $2,780,000. 55.17% of the stock is owned by institutional investors.
DCP Midstream Company Profile
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 in two segments, Gathering and Processing, and Logistics and Marketing. The Gathering and Processing segment is involved in gathering, compressing, treating, and processing natural gas; producing and fractionating natural gas liquids (NGLs); and recovering condensate.
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