Following The Money: Institution’s Growing Stake In DCP Midstream LP (NYSE: DCP)

DE Stock
DE Stock

Global X Management Co. LLC has recently announced that it has increased stake in DCP Midstream LP (NYSE:DCP) by 41.62%. After grabbing 3.71 million shares, the institutional investor is now in possession of 1.09 million shares of the Energy Company. The new investment brought the stake of investor firm to 1.78% having worth around $42.53 million. Moreover, JPMorgan Securities LLC (Investme.. increased its share by 0.66 million to have a control over 1.65 million shares. And RR Advisors LLC raised its holdings to 1.43 million shares by acquiring 1.43 million shares or 0.68% of the stake.

DCP Midstream LP (DCP) concluded trading on 08/26/20 at a closing price of $12.74, with 1.05 million shares of worth about $13.41 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -5.07% during that period and on Wednesday the price saw a loss of about -6.46%. Currently the company’s common shares owned by public are about 208.30M shares, out of which, 89.76M shares are available for trading.

Analysts also issued an outlook of 2.90 for the DCP Midstream LP stock for next 12 months.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 16 times over the past 12 months. They bought 65,164,025 shares in 16 of the transactions. In 0 selling transactions, insiders dumped 0 shares.

Alerian MLP ETF, Invesco Oppenheimer SteelPath MLP, and Invesco Oppenheimer SteelPath MLP are the top 3 mutual funds which are holding stakes in DCP Midstream LP Alerian MLP ETF is currently holding 10.69 million shares of worth totaling $122.41 million. The company recently came selling 3562.0 shares which brought its stake up to 5.13% of the company’s outstanding shares. Invesco Oppenheimer SteelPath MLP, after selling 5.5 million shares, have now control over 2.64% of the stake in the company. It holds -0.15 million shares of worth $63.01 million.

DCP Midstream LP (NYSE: DCP) started trading at $13.50, below -$0.12 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $12.74, or with a loss of -6.46%. Stock saw a price change of -5.07% in past 5 days and over the past one month there was a price change of 4.86%. Year-to-date (YTD), DCP shares are showing a performance of -47.98% which decreased to -45.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.20 but also hit the highest price of $28.38 during that period. While comparing its average daily trading volume of 1.30 million shares, we see that about 1.05 million changed hands on the day. The stock is currently trading -5.55% below its 20-day simple moving average (SMA20), while that difference is up 2.13% for SMA50 and it goes to -13.51% lower than SMA200.

Global X Management Co. LLC acquired 3.71 million shares of DCP Midstream LP having value of about $42.53 million. Data submitted at the U.S SEC by Global X Management Co. LLC revealed that the firm now holds 1.09 million shares in the company valued at close to $13904385.04, or have control over 41.62% stake in the company. DCP Midstream LP (NYSE: DCP) currently have 208.30M outstanding shares and institutions hold larger chunk of about 30.90% of that. Holding of mutual funds in the company is about 56.81% while other institutional holders and individual stake holders have control over 7.61% and 19.31% of the stake respectively.

The stock has a current market capitalization of $2.68B and its 3Y-monthly beta is at 3.92. It has posted earnings per share of -$4.22 in the same period. It has Quick Ratio of 1.00 while making debt-to-equity ratio of 1.16. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DCP, volatility over the week remained 4.63% while standing at 6.04% over the month.

Analysts are in expectations that DCP Midstream LP (DCP) stock would likely to be making an EPS of $0.35 in the current quarter, while forecast for next quarter ESPS is $0.36 and it is $1.32 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.16 which is $0.55 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.59 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -272.10% while it is estimated to increase by 171.70% in next year. EPS is likely to grow at an annualized rate of 1.97% for next 5-years, compared to annual growth of -18.80% made by the stock over the past 5-years.

Analysts at 16 brokerage firms have issued recommendations for the DCP Midstream LP (DCP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.90. Out of those 16 Wall Street analysts, 1 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on July 13, 2020 offering a Neutral rating for the stock and assigned a target price of $8.50 to it. Coverage by Jefferies stated DCP Midstream LP (DCP) stock as a Hold in their note to investors on June 23, 2020, suggesting a price target of $13.50 for the stock. On April 27, 2020, UBS Downgrade their recommendations, while on April 02, 2020, Credit Suisse Downgrade their ratings for the stock with a price target of $7. Stock get an Underweight rating from Barclays on March 24, 2020.


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