DCP Midstream (NYSE:DCP) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

DCP Midstream (NYSE:DCP) announced its quarterly earnings results on Wednesday. The pipeline company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.12), Fidelity Earnings reports. DCP Midstream had a net margin of 3.94% and a return on equity of 7.72%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $0.18 EPS. The business’s revenue for the quarter was down 38.4% on a year-over-year basis.

Shares of DCP Midstream stock traded up $0.39 during trading hours on Friday, hitting $23.99. The company’s stock had a trading volume of 834,075 shares, compared to its average volume of 727,785. The firm has a fifty day moving average of $24.70 and a 200-day moving average of $27.86. DCP Midstream has a twelve month low of $22.37 and a twelve month high of $39.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.43 and a current ratio of 0.46. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 10.40 and a beta of 2.12.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 13.01%. The ex-dividend date is Thursday, October 31st. DCP Midstream’s dividend payout ratio (DPR) is presently 202.60%.

Several equities analysts have recently commented on DCP shares. Raymond James decreased their price target on DCP Midstream from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group raised DCP Midstream from a “hold” rating to a “buy” rating and decreased their price target for the company from $32.00 to $27.00 in a research note on Tuesday, October 15th. Zacks Investment Research raised DCP Midstream from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada set a $26.00 price target on DCP Midstream and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, ValuEngine raised DCP Midstream from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.30.

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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Earnings History for DCP Midstream (NYSE:DCP)

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