Wall Street brokerages expect DCP Midstream LP (NYSE:DCP) to post $0.41 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for DCP Midstream’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.49. DCP Midstream posted earnings per share of ($0.08) in the same quarter last year, which would indicate a positive year over year growth rate of 612.5%. The business is expected to issue its next earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that DCP Midstream will report full year earnings of $1.16 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.28. For the next financial year, analysts forecast that the business will report earnings of $2.24 per share, with EPS estimates ranging from $1.05 to $3.01. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover DCP Midstream.
DCP Midstream (NYSE:DCP) last released its quarterly earnings results on Tuesday, August 7th. The pipeline company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.17). DCP Midstream had a return on equity of 3.07% and a net margin of 1.84%. The business had revenue of $2.32 billion for the quarter.
A number of equities analysts recently commented on the stock. Barclays raised their price target on shares of DCP Midstream from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 17th. Citigroup raised their price target on shares of DCP Midstream from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday. US Capital Advisors reiterated an “overweight” rating on shares of DCP Midstream in a research note on Tuesday, July 17th. ValuEngine upgraded shares of DCP Midstream from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, Zacks Investment Research downgraded shares of DCP Midstream from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.08.
Institutional investors have recently made changes to their positions in the business. FTB Advisors Inc. acquired a new stake in shares of DCP Midstream in the 2nd quarter valued at approximately $158,000. Russell Investments Group Ltd. acquired a new stake in shares of DCP Midstream in the 2nd quarter valued at approximately $174,000. CIBC Asset Management Inc acquired a new stake in shares of DCP Midstream in the 2nd quarter valued at approximately $209,000. Ferris Capital LLC boosted its stake in shares of DCP Midstream by 190.2% in the 2nd quarter. Ferris Capital LLC now owns 6,222 shares of the pipeline company’s stock valued at $246,000 after purchasing an additional 4,078 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of DCP Midstream by 31.8% in the 1st quarter. LPL Financial LLC now owns 8,698 shares of the pipeline company’s stock valued at $305,000 after purchasing an additional 2,099 shares in the last quarter. Hedge funds and other institutional investors own 54.76% of the company’s stock.
DCP Midstream traded down $0.32, reaching $45.25, during mid-day trading on Friday, Marketbeat Ratings reports. 2,728,985 shares of the company’s stock were exchanged, compared to its average volume of 633,272. DCP Midstream has a one year low of $29.95 and a one year high of $46.67. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 85.38 and a beta of 2.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.56 and a current ratio of 0.68.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 14th. Shareholders of record on Friday, August 3rd will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, August 2nd. This represents a $3.12 dividend on an annualized basis and a yield of 6.90%. DCP Midstream’s payout ratio is 588.68%.
DCP Midstream Company Profile
DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and condensate; and transporting, storing and selling propane in wholesale markets.
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