Spirit of America Management Corp NY lessened its stake in shares of DCP Midstream LP (NYSE:DCP) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,180 shares of the pipeline company’s stock after selling 7,800 shares during the period. Spirit of America Management Corp NY owned 0.14% of DCP Midstream worth $6,781,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Wambolt & Associates LLC increased its stake in DCP Midstream by 1.4% during the 1st quarter. Wambolt & Associates LLC now owns 44,118 shares of the pipeline company’s stock worth $1,455,000 after acquiring an additional 609 shares during the period. Lavaca Capital LLC increased its stake in shares of DCP Midstream by 18.4% in the 1st quarter. Lavaca Capital LLC now owns 10,300 shares of the pipeline company’s stock valued at $340,000 after purchasing an additional 1,600 shares during the last quarter. Deutsche Bank AG increased its stake in shares of DCP Midstream by 17.4% in the 4th quarter. Deutsche Bank AG now owns 529,184 shares of the pipeline company’s stock valued at $14,016,000 after purchasing an additional 78,548 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of DCP Midstream in the 4th quarter valued at $4,282,000. Finally, MetLife Investment Advisors LLC increased its stake in shares of DCP Midstream by 33.6% in the 4th quarter. MetLife Investment Advisors LLC now owns 238,924 shares of the pipeline company’s stock valued at $6,329,000 after purchasing an additional 60,128 shares during the last quarter. Hedge funds and other institutional investors own 56.14% of the company’s stock.
Shares of DCP traded up $0.04 during midday trading on Wednesday, hitting $32.29. The company’s stock had a trading volume of 68,557 shares, compared to its average volume of 452,040. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.67. DCP Midstream LP has a one year low of $24.18 and a one year high of $46.67. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 20.97 and a beta of 2.49.
DCP Midstream (NYSE:DCP) last released its quarterly earnings data on Monday, February 11th. The pipeline company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.70. DCP Midstream had a return on equity of 6.47% and a net margin of 3.03%. The company had revenue of $2.61 billion for the quarter. As a group, research analysts forecast that DCP Midstream LP will post 1.63 EPS for the current fiscal year.
Several brokerages have recently issued reports on DCP. Mizuho began coverage on DCP Midstream in a research note on Thursday, March 21st. They issued a “buy” rating and a $36.00 price target on the stock. Zacks Investment Research upgraded DCP Midstream from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 14th. Raymond James set a $35.00 price target on DCP Midstream and gave the company a “buy” rating in a research note on Thursday, February 14th. Evercore ISI began coverage on DCP Midstream in a research note on Tuesday, February 5th. They issued a $34.00 price target on the stock. Finally, Jefferies Financial Group lowered DCP Midstream from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $40.67.
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DCP Midstream Company 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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