DCP Midstream (NYSE:DCP) Shares Gap Up to $5.40

DCP Midstream LP (NYSE:DCP) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.20, but opened at $5.40. DCP Midstream shares last traded at $6.12, with a volume of 3,918,845 shares changing hands.

A number of analysts have recently issued reports on the company. Raymond James lowered DCP Midstream from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 12th. Stifel Nicolaus lowered DCP Midstream from a “buy” rating to a “hold” rating and lowered their price target for the stock from $26.00 to $11.00 in a research note on Thursday, March 12th. UBS Group lowered DCP Midstream from a “buy” rating to a “neutral” rating in a research note on Monday, March 16th. Barclays lowered DCP Midstream from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. lowered DCP Midstream from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $21.45.

The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.92. The company has a market cap of $962.48 million, a PE ratio of -5.56 and a beta of 2.82. The stock has a 50-day simple moving average of $9.68 and a 200 day simple moving average of $20.17.

DCP Midstream (NYSE:DCP) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.43). The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.31 billion. DCP Midstream had a net margin of 0.22% and a return on equity of 5.57%. As a group, research analysts anticipate that DCP Midstream LP will post 1.34 earnings per share for the current fiscal year.

In other news, CEO Kempen Wouter T. Van acquired 64,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $7.20 per share, for a total transaction of $464,400.00. Also, President Don Baldridge acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average price of $6.12 per share, for a total transaction of $61,200.00. Following the acquisition, the president now directly owns 20,689 shares in the company, valued at approximately $126,616.68. The disclosure for this purchase can be found here. Insiders purchased a total of 107,425 shares of company stock worth $820,863 in the last quarter. Company insiders own 0.04% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. purchased a new stake in DCP Midstream during the 4th quarter worth about $4,496,000. Tortoise Capital Advisors L.L.C. increased its holdings in DCP Midstream by 13.0% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 10,434,325 shares of the pipeline company’s stock worth $465,126,000 after purchasing an additional 1,202,525 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in DCP Midstream by 42.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,966 shares of the pipeline company’s stock worth $724,000 after purchasing an additional 8,639 shares during the period. Bank of America Corp DE increased its holdings in DCP Midstream by 85.3% during the 4th quarter. Bank of America Corp DE now owns 1,155,503 shares of the pipeline company’s stock worth $28,298,000 after purchasing an additional 531,875 shares during the period. Finally, Marshall Wace LLP purchased a new stake in DCP Midstream during the 4th quarter worth about $530,000. Institutional investors own 37.29% of the company’s stock.

DCP Midstream Company Profile (NYSE:DCP)

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, 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); fractionating NGLs; and wholesale propane logistics.

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