DCP Midstream LP (DCP) Given Consensus Rating of “Hold” by Analysts
Shares of DCP Midstream LP (NYSE:DCP) have been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $38.73.
DCP has been the subject of a number of research reports. Barclays reduced their price objective on DCP Midstream from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, August 17th. Jefferies Group reiterated a “hold” rating and set a $33.00 price objective (down previously from $35.00) on shares of DCP Midstream in a research report on Friday, September 1st. R. F. Lafferty initiated coverage on DCP Midstream in a research report on Thursday, October 5th. They set a “buy” rating and a $38.00 price objective for the company. Zacks Investment Research cut DCP Midstream from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price objective (up previously from $39.00) on shares of DCP Midstream in a research report on Thursday, November 9th.
In related news, VP Brent L. Backes purchased 150 shares of DCP Midstream stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $1,000.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the vice president now directly owns 150 shares in the company, valued at approximately $150,000. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kempen Wouter T. Van purchased 750 shares of DCP Midstream stock in a transaction on Monday, November 20th. The stock was bought at an average price of $1,000.00 per share, with a total value of $750,000.00. Following the transaction, the chief executive officer now owns 750 shares of the company’s stock, valued at $750,000. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 950 shares of company stock valued at $950,000. Company insiders own 0.04% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of DCP. Advisory Research Inc. purchased a new stake in shares of DCP Midstream during the second quarter worth about $347,051,000. Goldman Sachs Group Inc. purchased a new stake in shares of DCP Midstream during the second quarter worth about $246,698,000. Kayne Anderson Capital Advisors LP purchased a new stake in shares of DCP Midstream during the second quarter worth about $239,264,000. First Eagle Investment Management LLC purchased a new stake in shares of DCP Midstream during the second quarter worth about $107,928,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of DCP Midstream during the second quarter worth about $103,810,000. Institutional investors and hedge funds own 54.88% of the company’s stock.
Shares of DCP Midstream (NYSE:DCP) opened at $37.18 on Friday. The company has a market capitalization of $5,328.26, a price-to-earnings ratio of 41.78 and a beta of 2.10. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. DCP Midstream has a 1 year low of $29.70 and a 1 year high of $42.45.
About DCP Midstream
DCP Midstream, LP, formerly DCP Midstream Partners, LP, is a producer and marketer of natural gas liquids (NGLs) in the United States. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering, and selling condensate, and transporting, storing and selling propane in wholesale markets.
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