Short Interest in DCP Midstream LP (NYSE:DCP) Grows By 15.4%

Share on StockTwits

DCP Midstream LP (NYSE:DCP) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 7,300,600 shares, a growth of 15.4% from the July 15th total of 6,325,700 shares. Approximately 8.1% of the company’s stock are sold short. Based on an average daily trading volume, of 633,800 shares, the short-interest ratio is presently 11.5 days.

In other DCP Midstream news, Director Fred J. Fowler purchased 6,000 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $24.72 per share, for a total transaction of $148,320.00. Following the purchase, the director now owns 32,800 shares of the company’s stock, valued at $810,816. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in DCP. Albert D Mason Inc. boosted its stake in DCP Midstream by 0.8% in the 1st quarter. Albert D Mason Inc. now owns 43,149 shares of the pipeline company’s stock worth $1,426,000 after purchasing an additional 330 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in DCP Midstream by 1.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 19,100 shares of the pipeline company’s stock worth $560,000 after acquiring an additional 360 shares in the last quarter. Northern Trust Corp increased its holdings in DCP Midstream by 0.5% in the 4th quarter. Northern Trust Corp now owns 75,530 shares of the pipeline company’s stock worth $2,001,000 after acquiring an additional 374 shares in the last quarter. First Allied Advisory Services Inc. increased its holdings in DCP Midstream by 2.4% in the 2nd quarter. First Allied Advisory Services Inc. now owns 17,412 shares of the pipeline company’s stock worth $510,000 after acquiring an additional 409 shares in the last quarter. Finally, Wambolt & Associates LLC increased its holdings in DCP Midstream by 1.6% in the 2nd quarter. Wambolt & Associates LLC now owns 44,818 shares of the pipeline company’s stock worth $1,313,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 56.30% of the company’s stock.

A number of research firms have issued reports on DCP. Citigroup set a $31.00 price objective on shares of DCP Midstream and gave the company a “hold” rating in a report on Friday, July 19th. ValuEngine downgraded shares of DCP Midstream from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Credit Suisse Group decreased their price objective on shares of DCP Midstream from $39.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Royal Bank of Canada set a $26.00 price objective on shares of DCP Midstream and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Barclays set a $34.00 price objective on shares of DCP Midstream and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $35.50.

Shares of NYSE DCP traded down $0.21 during mid-day trading on Tuesday, hitting $23.49. The stock had a trading volume of 427,400 shares, compared to its average volume of 617,876. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.43 and a current ratio of 0.46. DCP Midstream has a 1 year low of $23.46 and a 1 year high of $43.84. The business has a 50 day moving average price of $27.73 and a two-hundred day moving average price of $30.53. The firm has a market cap of $3.40 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 9.21 and a beta of 2.08.

DCP Midstream (NYSE:DCP) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.17. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.53 billion. DCP Midstream had a net margin of 3.94% and a return on equity of 7.72%. During the same period in the previous year, the firm earned $0.07 EPS. Equities research analysts predict that DCP Midstream will post 1.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 2nd were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 13.28%. The ex-dividend date of this dividend was Thursday, August 1st. DCP Midstream’s payout ratio is currently 202.60%.

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, 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); fractionating NGLs; and wholesale propane logistics.

Read More: Consumer behavior in bull markets

Receive News & Ratings for DCP Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DCP Midstream and related companies with MarketBeat.com's FREE daily email newsletter.