DCP Midstream LP (NYSE:DCP) – Investment analysts at US Capital Advisors reduced their Q4 2019 earnings estimates for DCP Midstream in a research report issued to clients and investors on Tuesday, January 21st, according to Zacks Investment Research. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.44 per share for the quarter, down from their previous forecast of $0.49. US Capital Advisors also issued estimates for DCP Midstream’s Q1 2020 earnings at $0.40 EPS, Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.48 EPS, Q4 2020 earnings at $0.50 EPS, FY2020 earnings at $1.81 EPS and FY2021 earnings at $1.81 EPS.
DCP Midstream (NYSE:DCP) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.12). The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $2.34 billion. DCP Midstream had a return on equity of 7.41% and a net margin of 1.32%. The business’s revenue was down 38.4% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS.
Other equities analysts also recently issued research reports about the stock. Raymond James reduced their target price on shares of DCP Midstream from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group upgraded shares of DCP Midstream from a “hold” rating to a “buy” rating and reduced their target price for the stock from $32.00 to $27.00 in a research note on Tuesday, October 15th. Barclays set a $26.00 price objective on shares of DCP Midstream and gave the company a “hold” rating in a research note on Tuesday, October 15th. SunTrust Banks began coverage on shares of DCP Midstream in a research note on Friday, December 13th. They set a “hold” rating and a $26.00 price objective for the company. Finally, Zacks Investment Research cut shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. DCP Midstream has a consensus rating of “Hold” and an average price target of $29.82.
Shares of DCP traded up $0.84 during trading hours on Wednesday, hitting $22.37. The company’s stock had a trading volume of 513,351 shares, compared to its average volume of 893,386. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -30.23, a PEG ratio of 8.63 and a beta of 2.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.63 and a quick ratio of 0.59. The business has a 50 day simple moving average of $24.15 and a two-hundred day simple moving average of $24.61. DCP Midstream has a 52-week low of $20.40 and a 52-week high of $34.15.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.12 annualized dividend and a yield of 13.95%. DCP Midstream’s dividend payout ratio is currently 202.60%.
A number of institutional investors have recently made changes to their positions in the business. Evoke Wealth LLC bought a new position in shares of DCP Midstream in the 3rd quarter worth approximately $31,000. CWM LLC lifted its position in shares of DCP Midstream by 47.0% during the fourth quarter. CWM LLC now owns 6,533 shares of the pipeline company’s stock worth $160,000 after purchasing an additional 2,088 shares during the last quarter. Chilton Investment Co. LLC bought a new stake in shares of DCP Midstream during the third quarter worth $202,000. Tower Research Capital LLC TRC lifted its position in shares of DCP Midstream by 9,095.6% during the third quarter. Tower Research Capital LLC TRC now owns 8,368 shares of the pipeline company’s stock worth $219,000 after purchasing an additional 8,277 shares during the last quarter. Finally, Creative Planning lifted its position in shares of DCP Midstream by 11.1% during the third quarter. Creative Planning now owns 10,032 shares of the pipeline company’s stock worth $263,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.
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, 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.