SG Americas Securities LLC trimmed its holdings in DCP Midstream LP (NYSE:DCP) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,441 shares of the pipeline company’s stock after selling 24,362 shares during the period. SG Americas Securities LLC’s holdings in DCP Midstream were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System acquired a new stake in shares of DCP Midstream in the second quarter valued at approximately $4,202,000. CNH Partners LLC acquired a new stake in shares of DCP Midstream in the second quarter valued at approximately $698,000. ING Groep NV raised its position in shares of DCP Midstream by 425.4% in the third quarter. ING Groep NV now owns 524,896 shares of the pipeline company’s stock valued at $18,182,000 after buying an additional 425,000 shares in the last quarter. Conning Inc. raised its position in shares of DCP Midstream by 5.7% in the third quarter. Conning Inc. now owns 86,606 shares of the pipeline company’s stock valued at $3,000,000 after buying an additional 4,669 shares in the last quarter. Finally, Atlantic Trust Group LLC increased its stake in DCP Midstream by 53.6% in the third quarter. Atlantic Trust Group LLC now owns 517,903 shares of the pipeline company’s stock valued at $17,940,000 after acquiring an additional 180,761 shares during the last quarter. Institutional investors own 54.93% of the company’s stock.
A number of research analysts recently issued reports on DCP shares. Credit Suisse Group started coverage on shares of DCP Midstream in a research note on Thursday, January 4th. They issued a “neutral” rating and a $36.00 price objective on the stock. Zacks Investment Research raised shares of DCP Midstream from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, January 2nd. Bank of America started coverage on shares of DCP Midstream in a research note on Tuesday, January 9th. They issued a “buy” rating on the stock. Stifel Nicolaus set a $39.00 price objective on shares of DCP Midstream and gave the company a “buy” rating in a research note on Monday, December 18th. Finally, Goldman Sachs Group raised shares of DCP Midstream from a “sell” rating to a “neutral” rating and set a $48.00 price objective on the stock in a research note on Thursday, February 1st. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. DCP Midstream has a consensus rating of “Hold” and a consensus price target of $40.42.
In related news, VP Brent L. Backes bought 150 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $1,000.00 per share, with a total value of $150,000.00. Following the completion of the purchase, the vice president now owns 150 shares in the company, valued at approximately $150,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kempen Wouter T. Van bought 750 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $1,000.00 per share, for a total transaction of $750,000.00. Following the purchase, the chief executive officer now owns 750 shares of the company’s stock, valued at approximately $750,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 950 shares of company stock worth $950,000. Insiders own 0.04% of the company’s stock.
DCP Midstream LP (NYSE:DCP) opened at $39.47 on Tuesday. The stock has a market cap of $5,808.35, a P/E ratio of 45.54 and a beta of 2.15. DCP Midstream LP has a one year low of $29.70 and a one year high of $42.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.73 and a quick ratio of 0.70.
DCP Midstream (NYSE:DCP) last posted its earnings results on Tuesday, November 7th. The pipeline company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.20). The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.95 billion. DCP Midstream had a return on equity of 4.47% and a net margin of 3.74%. equities analysts anticipate that DCP Midstream LP will post 0.74 EPS for the current fiscal year.
The business also recently announced a dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.78 per share. The ex-dividend date is Tuesday, February 6th. This represents a dividend yield of 0.0189504373177843%. DCP Midstream’s payout ratio is presently 439.44%.
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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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