DCP Midstream LP (DCP) to Issue Quarterly Dividend of $0.78 on November 14th

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DCP Midstream LP (NYSE:DCP) announced a quarterly dividend on Tuesday, October 23rd, NASDAQ reports. Stockholders of record on Friday, November 2nd will be paid a dividend of 0.78 per share by the pipeline company on Wednesday, November 14th. This represents a $3.12 annualized dividend and a dividend yield of 8.58%. The ex-dividend date is Thursday, November 1st.

DCP Midstream has a payout ratio of 278.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect DCP Midstream to earn $2.59 per share next year, which means the company may not be able to cover its $3.12 annual dividend with an expected future payout ratio of 120.5%.

Shares of NYSE:DCP opened at $36.38 on Wednesday. The company has a market cap of $5.27 billion, a PE ratio of 214.47 and a beta of 2.32. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. DCP Midstream has a one year low of $32.33 and a one year high of $46.67.

DCP Midstream (NYSE:DCP) last issued its quarterly earnings data on Tuesday, August 7th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.17). The firm had revenue of $2.32 billion for the quarter. DCP Midstream had a net margin of 1.84% and a return on equity of 3.07%. As a group, equities research analysts forecast that DCP Midstream will post 1.12 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on DCP shares. Wells Fargo & Co decreased their price objective on shares of DCP Midstream from $44.00 to $40.00 and set a “market perform” rating for the company in a report on Monday, September 24th. ValuEngine cut shares of DCP Midstream from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Barclays set a $41.00 price objective on shares of DCP Midstream and gave the company a “sell” rating in a report on Friday, October 12th. Credit Suisse Group started coverage on shares of DCP Midstream in a report on Thursday, October 11th. They set an “outperform” rating and a $57.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of DCP Midstream from $39.00 to $42.00 and gave the company an “underweight” rating in a report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.36.

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, 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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Dividend History for DCP Midstream (NYSE:DCP)

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