DCP Midstream LP (NYSE:DCP) – Equities research analysts at Jefferies Financial Group lowered their Q1 2019 earnings estimates for DCP Midstream in a research report issued to clients and investors on Monday, April 15th, according to Zacks Investment Research. Jefferies Financial Group analyst C. Sighinolfi now expects that the pipeline company will earn $0.18 per share for the quarter, down from their prior forecast of $0.30. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for DCP Midstream’s Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.27 EPS, Q1 2020 earnings at $0.70 EPS, Q2 2020 earnings at $0.59 EPS, Q3 2020 earnings at $0.60 EPS, Q4 2020 earnings at $0.61 EPS and FY2023 earnings at $2.48 EPS.
Several other brokerages have also recently weighed in on DCP. ValuEngine cut DCP Midstream from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Raymond James set a $35.00 price target on DCP Midstream and gave the company a “buy” rating in a research report on Thursday, February 14th. Mizuho began coverage on DCP Midstream in a research report on Thursday, March 21st. They set a “buy” rating and a $36.00 price target for the company. Barclays upgraded DCP Midstream from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $41.00 to $33.00 in a research report on Wednesday, January 16th. Finally, Zacks Investment Research cut DCP Midstream from a “hold” rating to a “strong sell” rating in a research report on Friday, January 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $40.64.
DCP Midstream (NYSE:DCP) last issued its quarterly earnings results on Monday, May 6th. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19). DCP Midstream had a return on equity of 6.47% and a net margin of 3.03%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the business posted $0.08 EPS. DCP Midstream’s revenue was up 2.8% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. purchased a new stake in shares of DCP Midstream in the fourth quarter valued at approximately $29,000. Icon Wealth Partners LLC acquired a new stake in shares of DCP Midstream in the first quarter worth approximately $116,000. Penserra Capital Management LLC acquired a new stake in shares of DCP Midstream in the fourth quarter worth approximately $173,000. Lavaca Capital LLC acquired a new stake in shares of DCP Midstream in the fourth quarter worth approximately $230,000. Finally, American National Insurance Co. TX acquired a new stake in shares of DCP Midstream in the first quarter worth approximately $231,000. Institutional investors and hedge funds own 55.99% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 3rd will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date of this dividend is Thursday, May 2nd. DCP Midstream’s dividend payout ratio (DPR) is presently 202.60%.
About DCP Midstream
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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