DCP Midstream (DCP) Given New $40.00 Price Target at Wells Fargo & Co
DCP Midstream (NYSE:DCP) had its price target decreased by Wells Fargo & Co from $44.00 to $40.00 in a report published on Monday. Wells Fargo & Co currently has a market perform rating on the pipeline company’s stock.
Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus raised shares of DCP Midstream from a hold rating to a buy rating and raised their price target for the company from $42.00 to $51.00 in a research report on Monday, August 13th. Goldman Sachs Group upgraded shares of DCP Midstream from a neutral rating to a buy rating in a report on Tuesday, June 26th. Zacks Investment Research upgraded shares of DCP Midstream from a hold rating to a buy rating and set a $47.00 price objective on the stock in a report on Wednesday, July 18th. ValuEngine upgraded shares of DCP Midstream from a hold rating to a buy rating in a report on Thursday, August 2nd. Finally, Citigroup raised their price objective on shares of DCP Midstream from $44.00 to $46.00 and gave the company a neutral rating in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $42.67.
Shares of DCP stock opened at $39.47 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.68 and a quick ratio of 0.65. DCP Midstream has a 52 week low of $32.08 and a 52 week high of $46.67. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 237.35 and a beta of 2.32.
Institutional investors and hedge funds have recently made changes to their positions in the company. Cadence Capital Management LLC raised its holdings in shares of DCP Midstream by 20.5% in the 2nd quarter. Cadence Capital Management LLC now owns 118,390 shares of the pipeline company’s stock valued at $4,682,000 after purchasing an additional 20,140 shares in the last quarter. Ferris Capital LLC raised its stake in DCP Midstream by 190.2% during the 2nd quarter. Ferris Capital LLC now owns 6,222 shares of the pipeline company’s stock worth $246,000 after acquiring an additional 4,078 shares in the last quarter. Cbre Clarion Securities LLC acquired a new stake in DCP Midstream during the 2nd quarter worth $2,428,000. Perella Weinberg Partners Capital Management LP acquired a new stake in DCP Midstream during the 2nd quarter worth $3,456,000. Finally, Wells Fargo & Company MN raised its stake in DCP Midstream by 88.4% during the 2nd quarter. Wells Fargo & Company MN now owns 525,364 shares of the pipeline company’s stock worth $20,778,000 after acquiring an additional 246,539 shares in the last quarter. Institutional investors and hedge funds own 55.06% of the company’s stock.
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, Gathering and Processing, and Logistics and Marketing. The Gathering and Processing segment is involved in gathering, compressing, treating, and processing natural gas; producing and fractionating natural gas liquids (NGLs); and recovering condensate.
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