Advisors Asset Management Inc. bought a new position in shares of DCP Midstream LP (NYSE:DCP) during the second quarter, HoldingsChannel reports. The fund bought 5,356 shares of the pipeline company’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Alps Advisors Inc. increased its holdings in shares of DCP Midstream by 5.9% in the 2nd quarter. Alps Advisors Inc. now owns 7,510,182 shares of the pipeline company’s stock worth $272,845,000 after buying an additional 420,636 shares during the last quarter. Eagle Global Advisors LLC increased its holdings in shares of DCP Midstream by 4.9% in the 2nd quarter. Eagle Global Advisors LLC now owns 2,421,827 shares of the pipeline company’s stock worth $95,783,000 after buying an additional 112,929 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of DCP Midstream by 7.5% in the 2nd quarter. Bank of America Corp DE now owns 2,006,274 shares of the pipeline company’s stock worth $79,348,000 after buying an additional 140,184 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of DCP Midstream in the 2nd quarter worth $52,925,000. Finally, Global X Management Co LLC increased its holdings in shares of DCP Midstream by 10.6% in the 2nd quarter. Global X Management Co LLC now owns 1,140,742 shares of the pipeline company’s stock worth $45,116,000 after buying an additional 109,664 shares during the last quarter. 55.17% of the stock is currently owned by institutional investors and hedge funds.

DCP stock opened at $38.75 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.65 and a current ratio of 0.65. DCP Midstream LP has a 52 week low of $32.33 and a 52 week high of $46.67. The firm has a market cap of $5.83 billion, a P/E ratio of 73.11 and a beta of 2.27.

DCP Midstream (NYSE:DCP) last released its earnings results on Monday, November 5th. The pipeline company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.23). DCP Midstream had a net margin of 2.76% and a return on equity of 4.18%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the business posted ($0.41) EPS. DCP Midstream’s revenue for the quarter was up 34.3% on a year-over-year basis. Research analysts expect that DCP Midstream LP will post 1.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Friday, November 2nd will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 8.05%. The ex-dividend date of this dividend is Thursday, November 1st. DCP Midstream’s dividend payout ratio is currently 588.68%.

A number of equities analysts have recently commented on DCP shares. Wells Fargo & Co decreased their price target on shares of DCP Midstream from $44.00 to $40.00 and set a “market perform” rating on the stock in a report on Monday, September 24th. Morgan Stanley increased their price target on shares of DCP Midstream from $39.00 to $42.00 and gave the stock an “underweight” rating in a report on Friday, August 17th. Stifel Nicolaus raised shares of DCP Midstream from a “hold” rating to a “buy” rating and increased their price target for the stock from $42.00 to $51.00 in a report on Monday, August 13th. Credit Suisse Group started coverage on shares of DCP Midstream in a report on Thursday, October 11th. They issued an “outperform” rating and a $57.00 price target on the stock. Finally, ValuEngine raised shares of DCP Midstream from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. DCP Midstream presently has an average rating of “Hold” and an average target price of $45.55.

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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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Institutional Ownership by Quarter for DCP Midstream (NYSE:DCP)

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