Conning Inc. lowered its holdings in DCP Midstream LP (NYSE:DCP) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,432 shares of the pipeline company’s stock after selling 11,347 shares during the quarter. Conning Inc.’s holdings in DCP Midstream were worth $1,707,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of DCP Midstream in the second quarter worth about $174,000. Advisors Asset Management Inc. bought a new stake in shares of DCP Midstream in the second quarter worth about $212,000. Northern Trust Corp grew 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 purchasing an additional 5,237 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of DCP Midstream in the third quarter worth about $438,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of DCP Midstream by 19.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 148,400 shares of the pipeline company’s stock worth $5,875,000 after purchasing an additional 23,700 shares during the last quarter. Institutional investors own 56.27% of the company’s stock.
Several analysts have commented on DCP shares. Jefferies Financial Group upgraded shares of DCP Midstream from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Raymond James set a $35.00 price objective on shares of DCP Midstream and gave the stock a “buy” rating in a report on Thursday. Barclays upgraded shares of DCP Midstream from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $41.00 to $33.00 in a report on Wednesday, January 16th. Citigroup cut their price objective on shares of DCP Midstream from $46.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, November 29th. Finally, ValuEngine raised shares of DCP Midstream from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. DCP Midstream has a consensus rating of “Hold” and an average target price of $41.17.
NYSE:DCP opened at $31.90 on Thursday. DCP Midstream LP has a 52 week low of $24.18 and a 52 week high of $46.67. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.65 and a quick ratio of 0.62. The company has a market cap of $4.42 billion, a P/E ratio of 60.19 and a beta of 2.45.
DCP Midstream (NYSE:DCP) last posted its earnings results on Monday, February 11th. The pipeline company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.70. DCP Midstream had a net margin of 2.76% and a return on equity of 4.18%. The company had revenue of $2.61 billion during the quarter. As a group, equities analysts anticipate that DCP Midstream LP will post 0.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, February 4th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 1st. This represents a $3.12 dividend on an annualized basis and a yield of 9.78%. DCP Midstream’s payout ratio is 588.68%.
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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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