Institutional & Family Asset Management LLC bought a new position in DCP Midstream LP (NYSE:DCP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 73,615 shares of the pipeline company’s stock, valued at approximately $2,550,000. Institutional & Family Asset Management LLC owned about 0.05% of DCP Midstream at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in DCP Midstream during the 3rd quarter valued at about $573,000. First Allied Advisory Services Inc. bought a new stake in DCP Midstream during the 3rd quarter valued at about $484,000. Allianz Asset Management GmbH bought a new stake in DCP Midstream during the 3rd quarter valued at about $1,030,000. Schroder Investment Management Group bought a new stake in DCP Midstream during the 3rd quarter valued at about $4,756,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted 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 in the last quarter. Hedge funds and other institutional investors own 54.88% of the company’s stock.
Shares of DCP Midstream LP (NYSE:DCP) traded down $0.28 during trading on Friday, hitting $36.33. 232,763 shares of the stock were exchanged, compared to its average volume of 390,268. The stock has a market cap of $5,246.57, a P/E ratio of 51.17 and a beta of 2.10. DCP Midstream LP has a 52-week low of $29.70 and a 52-week high of $42.45. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.73.
A number of brokerages recently weighed in on DCP. Stifel Nicolaus set a $39.00 price objective on shares of DCP Midstream and gave the company a “buy” rating in a report on Monday, December 18th. R. F. Lafferty initiated coverage on shares of DCP Midstream in a research report on Thursday, October 5th. They set a “buy” rating and a $38.00 target price on the stock. Zacks Investment Research raised shares of DCP Midstream from a “strong sell” rating to a “hold” rating in a research report on Monday, November 13th. Finally, Jefferies Group reissued a “hold” rating and set a $33.00 target price (down previously from $35.00) on shares of DCP Midstream in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.64.
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DCP Midstream Profile
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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