Janney Montgomery Scott LLC increased its position in DCP Midstream LP (NYSE:DCP) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,100 shares of the pipeline company’s stock after acquiring an additional 360 shares during the quarter. Janney Montgomery Scott LLC’s holdings in DCP Midstream were worth $560,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC bought a new stake in DCP Midstream during the first quarter valued at approximately $116,000. Diversified Trust Co bought a new stake in DCP Midstream during the second quarter valued at approximately $203,000. American National Insurance Co. TX bought a new stake in DCP Midstream during the first quarter valued at approximately $231,000. American Financial Group Inc. bought a new stake in DCP Midstream during the first quarter valued at approximately $264,000. Finally, Cetera Advisors LLC lifted its position in DCP Midstream by 12.7% during the first quarter. Cetera Advisors LLC now owns 12,957 shares of the pipeline company’s stock valued at $429,000 after purchasing an additional 1,457 shares during the last quarter. Institutional investors own 56.30% of the company’s stock.
DCP stock opened at $24.13 on Friday. The company has a market capitalization of $3.54 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 9.93 and a beta of 2.08. DCP Midstream LP has a one year low of $24.01 and a one year high of $43.84. The company’s 50 day moving average price is $28.13 and its two-hundred day moving average price is $30.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.43 and a current ratio of 0.46.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 12.93%. The ex-dividend date was Thursday, August 1st. DCP Midstream’s dividend payout ratio (DPR) is presently 202.60%.
In other news, Director Fred J. Fowler bought 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $24.72 per share, with a total value of $148,320.00. Following the completion of the purchase, the director now directly owns 32,800 shares in the company, valued at $810,816. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by insiders.
Several equities research analysts have issued reports on DCP shares. Credit Suisse Group dropped their target price on shares of DCP Midstream from $39.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Barclays set a $34.00 target price on shares of DCP Midstream and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Citigroup set a $31.00 target price on shares of DCP Midstream and gave the company a “hold” rating in a research report on Friday, July 19th. Royal Bank of Canada set a $26.00 target price on shares of DCP Midstream and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, ValuEngine downgraded shares of DCP Midstream from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $35.50.
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, 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.
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