Creative Planning trimmed its holdings in shares of DCP Midstream LP (NYSE:DCP) by 7.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,292 shares of the pipeline company’s stock after selling 740 shares during the quarter. Creative Planning’s holdings in DCP Midstream were worth $228,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in DCP. Alps Advisors Inc. lifted its position in DCP Midstream by 38.0% during the third quarter. Alps Advisors Inc. now owns 10,863,871 shares of the pipeline company’s stock valued at $284,742,000 after buying an additional 2,989,560 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in DCP Midstream during the third quarter valued at approximately $4,448,000. California Public Employees Retirement System lifted its position in DCP Midstream by 78.0% during the third quarter. California Public Employees Retirement System now owns 222,883 shares of the pipeline company’s stock valued at $5,842,000 after buying an additional 97,645 shares in the last quarter. Dividend Assets Capital LLC lifted its position in DCP Midstream by 189.2% during the third quarter. Dividend Assets Capital LLC now owns 136,950 shares of the pipeline company’s stock valued at $3,589,000 after buying an additional 89,590 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in DCP Midstream by 24.9% during the third quarter. First Trust Advisors LP now owns 326,646 shares of the pipeline company’s stock valued at $8,561,000 after buying an additional 65,136 shares in the last quarter. 53.74% of the stock is currently owned by hedge funds and other institutional investors.
NYSE DCP opened at $20.30 on Friday. The company’s fifty day simple moving average is $23.46 and its 200-day simple moving average is $24.23. DCP Midstream LP has a 52 week low of $19.77 and a 52 week high of $34.15. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.87. The stock has a market cap of $2.89 billion, a P/E ratio of 18.87, a PEG ratio of 8.16 and a beta of 2.09.
The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $0.78 per share. The ex-dividend date was Friday, January 31st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 15.37%. DCP Midstream’s payout ratio is currently 300.00%.
A number of brokerages have weighed in on DCP. Raymond James reduced their price target on shares of DCP Midstream from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday. SunTrust Banks started coverage on shares of DCP Midstream in a research report on Friday, December 13th. They set a “hold” rating and a $26.00 target price on the stock. Finally, Zacks Investment Research cut shares of DCP Midstream from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. DCP Midstream has an average rating of “Hold” and an average target price of $29.00.
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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