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Chickasaw Capital Management LLC cut its stake in DCP Midstream, LP (NYSE:DCP – Get Rating) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,604,105 shares of the pipeline company’s stock after selling 531,782 shares during the quarter. DCP Midstream makes up approximately 5.3% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Chickasaw Capital Management LLC owned approximately 1.25% of DCP Midstream worth $101,013,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new position in shares of DCP Midstream during the 2nd quarter worth approximately $44,000. Loomis Sayles & Co. L P acquired a new position in shares of DCP Midstream during the 1st quarter worth approximately $48,000. CWM LLC raised its stake in shares of DCP Midstream by 104.7% during the 3rd quarter. CWM LLC now owns 2,098 shares of the pipeline company’s stock worth $79,000 after buying an additional 1,073 shares during the period. American National Insurance Co. acquired a new position in shares of DCP Midstream during the 1st quarter worth approximately $235,000. Finally, V Wealth Advisors LLC acquired a new position in shares of DCP Midstream during the 3rd quarter worth approximately $243,000. 35.49% of the stock is owned by institutional investors and hedge funds.
DCP Midstream Trading Down 0.1 %
DCP traded down $0.03 during mid-day trading on Friday, hitting $41.58. 714,002 shares of the stock were exchanged, compared to its average volume of 1,474,481. The firm’s fifty day moving average is $41.82 and its two-hundred day moving average is $39.66. DCP Midstream, LP has a 1-year low of $26.44 and a 1-year high of $42.15. The company has a current ratio of 0.68, a quick ratio of 0.65 and a debt-to-equity ratio of 0.75. The company has a market cap of $8.67 billion, a PE ratio of 8.82 and a beta of 2.41.
DCP Midstream (NYSE:DCP – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The pipeline company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.03 billion. DCP Midstream had a return on equity of 21.64% and a net margin of 7.02%. DCP Midstream’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 EPS. Equities analysts forecast that DCP Midstream, LP will post 4.39 earnings per share for the current fiscal year.
DCP Midstream Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Friday, February 3rd were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Thursday, February 2nd. DCP Midstream’s dividend payout ratio (DPR) is presently 36.44%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Mizuho downgraded DCP Midstream from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $42.00 in a research note on Thursday, January 12th. Raymond James cut DCP Midstream from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 9th. US Capital Advisors cut DCP Midstream from an “overweight” rating to a “hold” rating in a research report on Tuesday, January 31st. Finally, StockNews.com assumed coverage on DCP Midstream in a report on Friday, March 10th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.50.
DCP Midstream Profile
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DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing, and selling natural gas. It operates through the Logistics and Marketing and Gathering and Processing segments. The Logistics and Marketing segment includes transporting, trading, marketing, and storing natural gas and NGLs and fractionating NGLs.
Further Reading
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Want to see what other hedge funds are holding DCP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DCP Midstream, LP (NYSE:DCP – Get Rating).
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