Institutional & Family Asset Management LLC Invests $2.55 Million in DCP Midstream LP (DCP)
Institutional & Family Asset Management LLC acquired a new stake in DCP Midstream LP (NYSE:DCP) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 73,615 shares of the pipeline company’s stock, valued at approximately $2,550,000. Institutional & Family Asset Management LLC owned approximately 0.05% of DCP Midstream as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Virtu Financial LLC bought a new stake in DCP Midstream during the 3rd quarter valued at $573,000. First Allied Advisory Services Inc. bought a new stake in DCP Midstream during the 3rd quarter valued at $484,000. Allianz Asset Management GmbH bought a new stake in DCP Midstream during the 3rd quarter valued at $1,030,000. Schroder Investment Management Group bought a new stake in DCP Midstream during the 3rd quarter valued at $4,756,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in DCP Midstream by 0.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 674,252 shares of the pipeline company’s stock valued at $23,356,000 after buying an additional 1,746 shares during the last quarter. 54.88% of the stock is owned by institutional investors.
In other news, VP Brent L. Backes acquired 150 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of $1,000.00 per share, with a total value of $150,000.00. Following the transaction, the vice president now owns 150 shares of the company’s stock, valued at approximately $150,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kempen Wouter T. Van acquired 750 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $1,000.00 per share, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 750 shares in the company, valued at approximately $750,000. The disclosure for this purchase can be found here. Insiders bought a total of 950 shares of company stock worth $950,000 over the last ninety days. Insiders own 0.04% of the company’s stock.
DCP has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of DCP Midstream from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. R. F. Lafferty started coverage on shares of DCP Midstream in a report on Thursday, October 5th. They set a “buy” rating and a $38.00 price target for the company. Jefferies Group restated a “hold” rating and issued a $33.00 price objective (down from $35.00) on shares of DCP Midstream in a report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and issued a $40.00 price objective (up from $39.00) on shares of DCP Midstream in a report on Thursday, November 9th. Finally, Barclays decreased their price objective on shares of DCP Midstream from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.73.
Shares of DCP Midstream LP (DCP) opened at $37.18 on Friday. The firm has a market cap of $5,328.26, a PE ratio of 41.78 and a beta of 2.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.73 and a quick ratio of 0.70. DCP Midstream LP has a 1 year low of $29.70 and a 1 year high of $42.45.
About DCP Midstream
DCP Midstream, LP, formerly DCP Midstream Partners, LP, is a producer and marketer of natural gas liquids (NGLs) in the United States. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering, and selling condensate, and transporting, storing and selling propane in wholesale markets.
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