Mizuho raises DCP Midstream (NYSE:DCP) price target to $41.00

DCP Midstream (NYSE: DCP – Get an Assessment) saw its target price raised by Mizuho from $37.00 to $41.00 in a research report sent to investors on Friday, reports The Fly. The brokerage currently has a buy rating on the shares of the pipeline company.

DCP has been the subject of several other reports. Zacks Investment Research upgraded DCP Midstream from a hold rating to a strong buy rating and set a price target of $38.00 for the stock in a Tuesday, March 29 research report. Raymond James raised his price target on DCP Midstream from $39.00 to $40.00 and gave the stock a strong buy rating in a Friday, February 11 research report. Evercore ISI upgraded DCP Midstream from an online rating to an outperform rating in a Monday, April 4 research report. Citigroup raised its price target on DCP Midstream from $34.00 to $36.00 in a Tuesday, January 18 research report. Finally, StockNews.com began covering DCP Midstream in a research report on Thursday, March 31. They set a buy rating on the stock. Two investment analysts gave the stock a hold rating, nine gave the company a buy rating and two gave the company a high buy rating. According to data from MarketBeat.com, the stock has a consensus buy rating and an average target price of $35.55.

NYSE DCP opened at $34.30 on Friday. The company has a debt ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s 50-day moving average price is $32.15 and its 200-day moving average price is $29.99. DCP Midstream has a 1-year low of $21.52 and a 1-year high of $36.71. The company has a market capitalization of $7.15 billion, a price-earnings ratio of 21.57 and a beta of 3.18.

DCP Midstream (NYSE: DCP – Get Rating) last reported results on Wednesday, February 9. The pipeline company reported earnings per share (EPS) of $0.83 for the quarter, beating the consensus estimate of $0.79 by $0.04. DCP Midstream had a return on equity of 5.70% and a net margin of 3.65%. The company posted revenue of $3.48 billion for the quarter, versus a consensus estimate of $5.31 billion. During the same period of the previous year, the company achieved EPS of $0.34. Research analysts expect DCP Midstream to post earnings per share of 3.8 for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 14. Investors of record on Friday, February 4 received a dividend of $0.39. This represents a dividend of $1.56 on an annualized basis and a yield of 4.55%. The ex-dividend date was Thursday, February 3. DCP Midstream’s dividend payout ratio is currently 98.11%.

A number of institutional investors have recently changed their DCP holdings. Morgan Stanley increased its stake in DCP Midstream by 4.0% in the second quarter. Morgan Stanley now owns 1,847,587 shares of the pipeline company valued at $56,703,000 after buying an additional 70,316 shares last quarter. Total Clarity Wealth Management Inc. bought a new position in DCP Midstream in Q3 worth approximately $37,000. US Capital Wealth Advisors LLC bought a new position in DCP Midstream in Q3, valued at around $1,200,000. Deutsche Bank AG increased its stake in DCP Midstream by 11.8% in the third quarter. Deutsche Bank AG now owns 1,054,809 shares of the pipeline company valued at $29,777,000 after buying an additional 111,059 shares last quarter. Finally, Securian Asset Management Inc. increased its stake in DCP Midstream by 13.6% in the third quarter. Securian Asset Management Inc. now owns 114,449 shares of the pipeline company valued at $3,231,000 after buying an additional 13,700 shares last quarter. 32.95% of the shares are currently held by hedge funds and other institutional investors.

About DCP Midstream (Get a rating)

DCP Midstream LP is engaged in the gathering, compression, processing, processing, transportation, storage and sale of natural gas. It operates through the following segments: Logistics and Marketing and Collection and Processing. The Logistics and Marketing segment includes transportation, trading, marketing and storage of natural gas and NGLs and fractionation of NGLs.

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Richard L. Militello