DCP Midstream (DCP) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of DCP Midstream (NYSE:DCP) from a strong-buy rating to a hold rating in a research note published on Monday, January 8th.

According to Zacks, “DCP Midstream Partners, LP is a midstream master limited partnership that gathers, treats, compresses, processes, transports and markets natural gas and transports and markets natural gas liquids. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by Duke Energy Field Services, a joint venture between Duke Energy and ConocoPhillips. It is a midstream master limited partnership formed by Duke Energy Field Services to own, operate, acquire and develop a diversified portfolio of complementary midstream assets. Supported by its relationship with Duke Energy Field Services and its parents, Duke Energy and ConocoPhillips, it intend to acquire and construct additional assets and have a management team dedicated to executing our growth strategies. “

Several other brokerages have also recently issued reports on DCP. Credit Suisse Group began coverage on DCP Midstream in a research note on Thursday, January 4th. They issued a neutral rating and a $36.00 price objective on the stock. Stifel Nicolaus set a $39.00 price objective on DCP Midstream and gave the company a buy rating in a research note on Monday, December 18th. Finally, R. F. Lafferty initiated coverage on DCP Midstream in a research note on Thursday, October 5th. They issued a buy rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $39.17.

Shares of DCP Midstream (NYSE DCP) traded down $0.07 during trading on Monday, reaching $41.56. The company had a trading volume of 490,780 shares, compared to its average volume of 464,404. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.67. DCP Midstream has a 52 week low of $29.70 and a 52 week high of $42.45. The stock has a market capitalization of $5,960.00, a price-to-earnings ratio of 58.54 and a beta of 2.10.

DCP Midstream (NYSE:DCP) last released its quarterly earnings results on Tuesday, November 7th. The pipeline company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.20). DCP Midstream had a return on equity of 4.47% and a net margin of 3.74%. equities research analysts predict that DCP Midstream will post 0.74 earnings per share for the current fiscal year.

In other news, insider Don Baldridge acquired 50 shares of DCP Midstream stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $1,000.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the insider now directly owns 50 shares in the company, valued at $50,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kempen Wouter T. Van acquired 750 shares of DCP Midstream stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $1,000.00 per share, with a total value of $750,000.00. Following the transaction, the chief executive officer now owns 750 shares of the company’s stock, valued at $750,000. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 950 shares of company stock worth $950,000. Corporate insiders own 0.04% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of DCP Midstream during the 2nd quarter valued at approximately $119,000. Salem Investment Counselors Inc. acquired a new stake in shares of DCP Midstream during the 2nd quarter valued at approximately $135,000. QS Investors LLC acquired a new stake in shares of DCP Midstream during the 2nd quarter valued at approximately $167,000. Sei Investments Co. acquired a new stake in shares of DCP Midstream during the 2nd quarter valued at approximately $179,000. Finally, Abbot Financial Management Inc. acquired a new stake in shares of DCP Midstream during the 2nd quarter valued at approximately $200,000. Institutional investors own 54.88% of the company’s stock.

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About DCP Midstream

DCP Midstream, LP, formerly DCP Midstream Partners, LP, is a producer and marketer of natural gas liquids (NGLs) in the United States. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering, and selling condensate, and transporting, storing and selling propane in wholesale markets.

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