DCP Midstream (NYSE:DCP) Announces Earnings Results

DCP Midstream (NYSE:DCP) announced its earnings results on Monday, May 6th. The pipeline company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19), Briefing.com reports. DCP Midstream had a return on equity of 6.75% and a net margin of 3.15%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the company earned $0.08 earnings per share. DCP Midstream’s quarterly revenue was up 2.8% on a year-over-year basis.

Shares of NYSE DCP traded down $0.39 during midday trading on Thursday, hitting $31.07. The company had a trading volume of 351,721 shares, compared to its average volume of 554,677. The company has a quick ratio of 0.43, a current ratio of 0.45 and a debt-to-equity ratio of 0.67. DCP Midstream has a twelve month low of $24.18 and a twelve month high of $46.67. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 10.63 and a beta of 2.42.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, May 3rd were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 10.04%. The ex-dividend date was Thursday, May 2nd. DCP Midstream’s dividend payout ratio (DPR) is 202.60%.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of DCP Midstream from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 14th. Barclays set a $34.00 target price on shares of DCP Midstream and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Evercore ISI started coverage on shares of DCP Midstream in a research note on Tuesday, February 5th. They set a $34.00 price target for the company. Raymond James set a $35.00 price target on shares of DCP Midstream and gave the stock a “buy” rating in a research note on Thursday, February 14th. Finally, Mizuho started coverage on shares of DCP Midstream in a research note on Thursday, March 21st. They set a “buy” rating and a $36.00 price target for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $40.73.

Several hedge funds and other institutional investors have recently made changes to their positions in DCP. Bessemer Group Inc. purchased a new position in DCP Midstream during the 4th quarter valued at about $29,000. Icon Wealth Partners LLC purchased a new stake in shares of DCP Midstream during the first quarter worth about $116,000. Penserra Capital Management LLC purchased a new stake in shares of DCP Midstream during the fourth quarter worth about $173,000. Lavaca Capital LLC purchased a new stake in shares of DCP Midstream during the fourth quarter worth about $230,000. Finally, American National Insurance Co. TX purchased a new stake in shares of DCP Midstream during the first quarter worth about $231,000. Hedge funds and other institutional investors own 57.28% of the company’s stock.

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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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Earnings History for DCP Midstream (NYSE:DCP)

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