Creative Planning lessened its stake in DCP Midstream LP (NYSE:DCP) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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.
Several other institutional investors and hedge funds also recently made changes to their positions in DCP. Alps Advisors Inc. increased its holdings in shares of DCP Midstream by 38.0% in the 3rd quarter. Alps Advisors Inc. now owns 10,863,871 shares of the pipeline company’s stock valued at $284,742,000 after purchasing an additional 2,989,560 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of DCP Midstream in the 3rd quarter valued at about $4,448,000. California Public Employees Retirement System increased its holdings in shares of DCP Midstream by 78.0% in the 3rd quarter. California Public Employees Retirement System now owns 222,883 shares of the pipeline company’s stock valued at $5,842,000 after purchasing an additional 97,645 shares in the last quarter. Dividend Assets Capital LLC increased its holdings in shares of DCP Midstream by 189.2% in the 3rd quarter. Dividend Assets Capital LLC now owns 136,950 shares of the pipeline company’s stock valued at $3,589,000 after purchasing an additional 89,590 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of DCP Midstream by 24.9% in the 3rd quarter. First Trust Advisors LP now owns 326,646 shares of the pipeline company’s stock valued at $8,561,000 after purchasing an additional 65,136 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.
NYSE:DCP opened at $20.30 on Friday. 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 firm has a 50-day moving average price of $23.46 and a two-hundred day moving average price of $24.23. DCP Midstream LP has a twelve month low of $19.77 and a twelve month high of $34.15. The company has a market capitalization of $2.89 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 8.16 and a beta of 2.09.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.12 annualized dividend and a yield of 15.37%. DCP Midstream’s dividend payout ratio (DPR) is currently 300.00%.
DCP has been the subject of a number of research analyst reports. Raymond James cut their price target on shares of DCP Midstream from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday. SunTrust Banks initiated coverage on shares of DCP Midstream in a report on Friday, December 13th. They issued a “hold” rating and a $26.00 price target for the company. Finally, Zacks Investment Research downgraded shares of DCP Midstream from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $29.00.
About DCP Midstream
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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