Morgan Stanley lifted its stake in DCP Midstream LP (NYSE:DCP) by 202.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,200,840 shares of the pipeline company’s stock after buying an additional 3,480,844 shares during the period. Morgan Stanley owned about 2.50% of DCP Midstream worth $21,167,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in DCP Midstream in the fourth quarter valued at about $4,496,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of DCP Midstream by 131.9% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,795 shares of the pipeline company’s stock valued at $43,000 after acquiring an additional 1,021 shares during the last quarter. Raymond James & Associates raised its stake in shares of DCP Midstream by 7.8% in the fourth quarter. Raymond James & Associates now owns 20,579 shares of the pipeline company’s stock valued at $504,000 after acquiring an additional 1,497 shares during the last quarter. American Financial Group Inc. boosted its holdings in shares of DCP Midstream by 20.0% in the 4th quarter. American Financial Group Inc. now owns 12,000 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 2,000 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in DCP Midstream by 10.7% during the 1st quarter. SG Americas Securities LLC now owns 25,758 shares of the pipeline company’s stock worth $105,000 after acquiring an additional 2,497 shares during the last quarter. 29.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE DCP opened at $11.21 on Wednesday. DCP Midstream LP has a 1 year low of $2.20 and a 1 year high of $31.49. The firm’s 50-day moving average is $11.44 and its 200-day moving average is $14.47. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $2.34 billion, a PE ratio of 7.73 and a beta of 3.97.
DCP Midstream (NYSE:DCP) last announced its quarterly earnings data on Wednesday, May 6th. The pipeline company reported ($2.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($3.13). DCP Midstream had a negative net margin of 8.58% and a positive return on equity of 6.70%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the company earned $0.14 earnings per share. The company’s quarterly revenue was down 24.6% on a year-over-year basis. As a group, equities research analysts anticipate that DCP Midstream LP will post 1.23 earnings per share for the current fiscal year.
A number of research firms have commented on DCP. R. F. Lafferty reduced their price objective on DCP Midstream from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. ValuEngine raised DCP Midstream from a “strong sell” rating to a “sell” rating in a report on Friday, May 1st. Wells Fargo & Co decreased their price objective on shares of DCP Midstream from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 14th. Stifel Nicolaus cut shares of DCP Midstream from a “buy” rating to a “hold” rating and lowered their price objective for the company from $26.00 to $11.00 in a research report on Thursday, March 12th. Finally, SunTrust Banks upped their target price on shares of DCP Midstream from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.12.
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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