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

DCP Midstream LP (NYSE:DCP) shares gapped up before the market opened 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.

Several brokerages have recently issued reports on DCP. SunTrust Banks began coverage on DCP Midstream in a report on Friday, December 13th. They set a “hold” rating and a $26.00 price objective on the stock. Credit Suisse Group cut DCP Midstream from an “outperform” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Wednesday, April 1st. Barclays cut DCP Midstream from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 24th. Stifel Nicolaus cut DCP Midstream from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $26.00 to $11.00 in a report on Thursday, March 12th. Finally, Raymond James cut DCP Midstream from an “outperform” rating to a “market perform” rating in a report on Thursday, March 12th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. DCP Midstream has an average rating of “Hold” and an average target price of $21.45.

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

DCP Midstream (NYSE:DCP) last released its earnings results on Tuesday, February 11th. The pipeline company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.43). DCP Midstream had a return on equity of 5.57% and a net margin of 0.22%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.31 billion. On average, equities analysts forecast that DCP Midstream LP will post 1.34 EPS for the current year.

In other DCP Midstream news, CFO Sean O’brien bought 16,500 shares of DCP Midstream stock in a transaction on Thursday, March 12th. The shares were acquired at an average price of $6.01 per share, for a total transaction of $99,165.00. Following the completion of the purchase, the chief financial officer now directly owns 16,500 shares in the company, valued at approximately $99,165. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard A. Loving bought 2,275 shares of DCP Midstream stock in a transaction on Wednesday, March 4th. The stock was acquired at an average price of $14.60 per share, for a total transaction of $33,215.00. In the last quarter, insiders acquired 107,425 shares of company stock worth $820,863. Insiders own 0.04% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. grew its position in shares of 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 buying an additional 1,202,525 shares in the last quarter. Bank of America Corp DE grew its position in shares of 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 buying an additional 531,875 shares in the last quarter. Bank of Montreal Can grew its position in shares of DCP Midstream by 162.6% during the 4th quarter. Bank of Montreal Can now owns 682,103 shares of the pipeline company’s stock worth $16,705,000 after buying an additional 422,394 shares in the last quarter. Brookfield Public Securities Group LLC grew its position in shares of DCP Midstream by 22.0% during the 4th quarter. Brookfield Public Securities Group LLC now owns 2,178,385 shares of the pipeline company’s stock worth $53,348,000 after buying an additional 393,205 shares in the last quarter. Finally, Barclays PLC grew its position in shares of DCP Midstream by 525.7% during the 4th quarter. Barclays PLC now owns 364,829 shares of the pipeline company’s stock worth $8,935,000 after buying an additional 306,520 shares in the last quarter. Institutional investors and hedge funds 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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