DCP Midstream, LLC (DCP) Shares Sold by Infrastructure Capital Advisors LLC
Infrastructure Capital Advisors LLC lowered its stake in shares of DCP Midstream, LLC (NYSE:DCP) by 71.8% during the first quarter, Holdings Channel reports. The fund owned 65,293 shares of the pipeline company’s stock after selling 166,446 shares during the period. Infrastructure Capital Advisors LLC’s holdings in DCP Midstream were worth $2,293,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of DCP. SeaCrest Wealth Management LLC bought a new stake in DCP Midstream during the 4th quarter worth about $110,000. Cadence Capital Management LLC bought a new stake in DCP Midstream during the 4th quarter worth about $3,074,000. Albert D Mason Inc. lifted its position in DCP Midstream by 15.5% during the 4th quarter. Albert D Mason Inc. now owns 45,604 shares of the pipeline company’s stock valued at $1,657,000 after purchasing an additional 6,103 shares during the period. California Public Employees Retirement System lifted its position in DCP Midstream by 4.5% during the 4th quarter. California Public Employees Retirement System now owns 119,400 shares of the pipeline company’s stock valued at $4,338,000 after purchasing an additional 5,100 shares during the period. Finally, Wells Fargo & Company MN lifted its position in DCP Midstream by 132.9% during the 4th quarter. Wells Fargo & Company MN now owns 100,999 shares of the pipeline company’s stock valued at $3,670,000 after purchasing an additional 57,635 shares during the period. 56.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on DCP. ValuEngine upgraded shares of DCP Midstream from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. Stifel Nicolaus downgraded shares of DCP Midstream from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a research report on Wednesday. They noted that the move was a valuation call. Barclays upped their target price on shares of DCP Midstream from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 17th. Bank of America upgraded shares of DCP Midstream from a “neutral” rating to a “buy” rating and upped their target price for the company from $33.47 to $42.00 in a research report on Wednesday, March 21st. Finally, Deutsche Bank began coverage on shares of DCP Midstream in a research report on Thursday, April 19th. They set a “hold” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.42.
DCP Midstream (NYSE:DCP) last announced its quarterly earnings results on Monday, May 7th. The pipeline company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.60 billion. DCP Midstream had a net margin of 2.24% and a return on equity of 3.08%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. analysts forecast that DCP Midstream, LLC will post 1.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 8th were given a $0.78 dividend. The ex-dividend date was Monday, May 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.68%. DCP Midstream’s dividend payout ratio is 588.68%.
DCP Midstream 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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