Tortoise Capital Advisors L.L.C. Boosts Stake in DCP Midstream, LP (NYSE:DCP)

Tortoise Capital Advisors L.L.C. raised its position in DCP Midstream, LP (NYSE:DCP) by 12,872.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,204,844 shares of the pipeline company’s stock after purchasing an additional 9,133,888 shares during the period. DCP Midstream accounts for 3.3% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 13th biggest position. Tortoise Capital Advisors L.L.C.’s holdings in DCP Midstream were worth $199,377,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Credit Suisse AG increased its stake in DCP Midstream by 1.9% in the 1st quarter. Credit Suisse AG now owns 21,339 shares of the pipeline company’s stock valued at $462,000 after buying an additional 407 shares during the last quarter. HighTower Advisors LLC grew its position in shares of DCP Midstream by 3.2% during the 1st quarter. HighTower Advisors LLC now owns 14,242 shares of the pipeline company’s stock valued at $307,000 after acquiring an additional 446 shares during the period. First Horizon Advisors Inc. grew its position in shares of DCP Midstream by 99.9% during the 1st quarter. First Horizon Advisors Inc. now owns 2,111 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 1,055 shares during the period. Van ECK Associates Corp grew its position in shares of DCP Midstream by 16.5% during the 1st quarter. Van ECK Associates Corp now owns 8,879 shares of the pipeline company’s stock valued at $192,000 after acquiring an additional 1,260 shares during the period. Finally, Total Clarity Wealth Management Inc. bought a new position in shares of DCP Midstream during the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 31.42% of the company’s stock.

NYSE:DCP remained flat at $$27.26 during trading hours on Thursday. 9,395 shares of the company’s stock traded hands, compared to its average volume of 529,044. The business’s 50 day simple moving average is $28.27. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 1.02. DCP Midstream, LP has a 1 year low of $9.62 and a 1 year high of $32.30. The firm has a market cap of $5.68 billion, a PE ratio of 23.91 and a beta of 3.58.

DCP Midstream (NYSE:DCP) last announced its quarterly earnings results on Wednesday, May 5th. The pipeline company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.11). DCP Midstream had a net margin of 4.27% and a return on equity of 5.82%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2 billion. On average, analysts anticipate that DCP Midstream, LP will post 1.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 13th. Shareholders of record on Friday, July 30th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Thursday, July 29th. DCP Midstream’s payout ratio is 105.41%.

A number of research firms have recently weighed in on DCP. Mizuho increased their target price on shares of DCP Midstream from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, May 12th. increased their target price on shares of DCP Midstream from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, June 2nd. Credit Suisse Group increased their target price on shares of DCP Midstream from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, May 13th. Zacks Investment Research raised shares of DCP Midstream from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a report on Wednesday, May 12th. Finally, Barclays raised their price objective on shares of DCP Midstream from $27.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, June 17th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $26.58.

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); and fractionating NGLs.

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Institutional Ownership by Quarter for DCP Midstream (NYSE:DCP)

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