DCP Midstream (DCP) Coverage Initiated at Credit Suisse Group
Credit Suisse Group assumed coverage on shares of DCP Midstream (NYSE:DCP) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $57.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target points to a potential upside of 37.02% from the stock’s previous close.
A number of other analysts have also recently issued reports on DCP. Zacks Investment Research cut DCP Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Goldman Sachs Group upgraded DCP Midstream from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 26th. US Capital Advisors restated an “overweight” rating on shares of DCP Midstream in a research report on Tuesday, July 17th. Citigroup boosted their price objective on DCP Midstream from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, July 31st. Finally, Stifel Nicolaus upgraded DCP Midstream from a “hold” rating to a “buy” rating and boosted their price objective for the company from $42.00 to $51.00 in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. DCP Midstream currently has an average rating of “Hold” and an average price target of $45.36.
Shares of NYSE DCP opened at $41.60 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.65 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 78.49 and a beta of 2.32. DCP Midstream has a 12 month low of $32.08 and a 12 month high of $46.67.
A number of large investors have recently made changes to their positions in the business. Tortoise Index Solutions LLC grew its position in DCP Midstream by 16.2% in the second quarter. Tortoise Index Solutions LLC now owns 13,675 shares of the pipeline company’s stock valued at $541,000 after acquiring an additional 1,909 shares during the period. LPL Financial LLC grew its position in DCP Midstream by 31.8% in the first quarter. LPL Financial LLC now owns 8,698 shares of the pipeline company’s stock valued at $305,000 after acquiring an additional 2,099 shares during the period. Moody Aldrich Partners LLC bought a new stake in DCP Midstream in the second quarter valued at $90,134,000. Ballentine Partners LLC grew its position in DCP Midstream by 13.1% in the second quarter. Ballentine Partners LLC now owns 23,679 shares of the pipeline company’s stock valued at $937,000 after acquiring an additional 2,739 shares during the period. Finally, Jane Street Group LLC grew its position in DCP Midstream by 43.8% in the first quarter. Jane Street Group LLC now owns 12,236 shares of the pipeline company’s stock valued at $430,000 after acquiring an additional 3,727 shares during the period. Hedge funds and other institutional investors own 55.05% 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, 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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