DCP Midstream (NYSE:DCP) received a $35.00 target price from research analysts at Raymond James in a report issued on Thursday. The firm presently has a “buy” rating on the pipeline company’s stock. Raymond James’ target price indicates a potential upside of 7.73% from the stock’s current price.
A number of other brokerages have also recently weighed in on DCP. Bank of America set a $46.00 price target on shares of DCP Midstream and gave the company a “buy” rating in a research report on Wednesday, November 7th. Credit Suisse Group reduced their price target on shares of DCP Midstream from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 20th. Morgan Stanley reduced their price target on shares of DCP Midstream from $42.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, November 30th. Citigroup reduced their price target on shares of DCP Midstream from $46.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, November 29th. Finally, Jefferies Financial Group cut shares of DCP Midstream from a “buy” rating to a “hold” rating in a research report on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.17.
Shares of DCP stock opened at $32.49 on Thursday. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 21.10 and a beta of 2.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 0.65. DCP Midstream has a fifty-two week low of $24.18 and a fifty-two week high of $46.67.
DCP Midstream (NYSE:DCP) last announced its quarterly earnings results on Monday, February 11th. The pipeline company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.70. The firm had revenue of $2.61 billion for the quarter. DCP Midstream had a net margin of 3.03% and a return on equity of 6.43%. As a group, equities research analysts anticipate that DCP Midstream will post 1.75 earnings per share for the current fiscal year.
In other news, Director Fred J. Fowler bought 2,500 shares of DCP Midstream stock in a transaction dated Friday, December 28th. The shares were acquired at an average cost of $26.10 per share, with a total value of $65,250.00. Following the completion of the transaction, the director now owns 26,800 shares in the company, valued at approximately $699,480. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of DCP Midstream by 423.5% during the third quarter. Renaissance Technologies LLC now owns 81,433 shares of the pipeline company’s stock worth $3,224,000 after purchasing an additional 65,877 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of DCP Midstream in the third quarter worth $45,536,000. Northern Trust Corp increased its stake in shares of DCP Midstream by 7.6% in the second quarter. Northern Trust Corp now owns 74,533 shares of the pipeline company’s stock worth $2,948,000 after buying an additional 5,237 shares during the last quarter. Deutsche Bank AG increased its stake in shares of DCP Midstream by 94.2% in the third quarter. Deutsche Bank AG now owns 450,636 shares of the pipeline company’s stock worth $17,840,000 after buying an additional 218,541 shares during the last quarter. Finally, Perella Weinberg Partners Capital Management LP increased its stake in shares of DCP Midstream by 146.2% in the third quarter. Perella Weinberg Partners Capital Management LP now owns 215,189 shares of the pipeline company’s stock worth $8,519,000 after buying an additional 127,801 shares during the last quarter. 56.27% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: Fundamental Analysis and Individual Investors
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