Equities research analysts predict that DCP Midstream LP (NYSE:DCP) will report $0.35 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for DCP Midstream’s earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.48. DCP Midstream posted earnings per share of $0.08 during the same quarter last year, which indicates a positive year over year growth rate of 337.5%. The business is expected to issue its next earnings results on Monday, May 6th.
On average, analysts expect that DCP Midstream will report full year earnings of $1.62 per share for the current financial year, with EPS estimates ranging from $1.29 to $1.92. For the next financial year, analysts anticipate that the company will post earnings of $2.26 per share, with EPS estimates ranging from $1.81 to $2.66. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover DCP Midstream.
DCP Midstream (NYSE:DCP) last announced its earnings results on Monday, February 11th. The pipeline company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.70. DCP Midstream had a net margin of 3.03% and a return on equity of 6.47%. The firm had revenue of $2.61 billion during the quarter.
Several research firms have commented on DCP. Zacks Investment Research cut DCP Midstream from a “hold” rating to a “strong sell” rating in a report on Friday, January 11th. Evercore ISI began coverage on DCP Midstream in a report on Tuesday, February 5th. They issued a $34.00 price target for the company. Morgan Stanley lowered their price target on DCP Midstream from $42.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, November 30th. Raymond James began coverage on DCP Midstream in a report on Thursday, January 10th. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Citigroup lowered their price target on DCP Midstream from $46.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $41.09.
In other news, Director Fred J. Fowler bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 28th. The stock was acquired at an average price of $26.10 per share, for a total transaction of $65,250.00. Following the acquisition, the director now owns 26,800 shares of the company’s stock, valued at $699,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. First Capital Advisors Group LLC. grew its holdings in shares of DCP Midstream by 5.3% during the 4th quarter. First Capital Advisors Group LLC. now owns 26,113 shares of the pipeline company’s stock worth $692,000 after purchasing an additional 1,314 shares during the period. Renaissance Technologies LLC grew its holdings in shares of DCP Midstream by 423.5% during the 3rd quarter. Renaissance Technologies LLC now owns 81,433 shares of the pipeline company’s stock worth $3,224,000 after purchasing an additional 65,877 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of DCP Midstream during the 3rd quarter worth about $45,536,000. Northern Trust Corp grew its holdings in shares of DCP Midstream by 7.6% during the 2nd quarter. Northern Trust Corp now owns 74,533 shares of the pipeline company’s stock worth $2,948,000 after purchasing an additional 5,237 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of DCP Midstream by 42.2% during the 4th quarter. Advisors Asset Management Inc. now owns 17,680 shares of the pipeline company’s stock worth $468,000 after purchasing an additional 5,244 shares during the period. Institutional investors and hedge funds own 56.03% of the company’s stock.
DCP traded down $0.01 during midday trading on Friday, hitting $31.18. The company’s stock had a trading volume of 14,715 shares, compared to its average volume of 689,724. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.67 and a quick ratio of 0.63. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 20.26 and a beta of 2.49. DCP Midstream has a 52-week low of $24.18 and a 52-week high of $46.67.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Monday, February 4th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 10.01%. The ex-dividend date of this dividend was Friday, February 1st. DCP Midstream’s dividend payout ratio (DPR) is 202.60%.
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, Gathering and Processing, and Logistics and Marketing. The Gathering and Processing segment is involved in gathering, compressing, treating, and processing natural gas; producing and fractionating natural gas liquids (NGLs); and recovering condensate.
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