Global X Management Co. LLC recently announced the acquisition of new stake in DCP Midstream LP (NYSE:DCP). The institutional investor has increased its shareholding in the Energy company by 41.62% to 3.71 million shares with purchase of 1.09 million shares. This fresh investment now brings its stake to 1.78% valued currently at $42.53 million. In addition, JPMorgan Securities LLC (Investme.. raised its holdings by 0.66 million to 1.65 million shares.
With over 2.47 million DCP Midstream LP (DCP) shares trading Monday and a closing price of $12.67 on the day, the dollar volume was approximately $31.3 million. The shares have shown a negative weekly performance of -6.43% and its price on 08/31/20 lost nearly -3.65%. Currently, there are 208.30M common shares owned by the public and among those 89.76M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for DCP have a consensus price objective of $14.71. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $7.00 should the stock experience a downside. Incidentally, analysts’ outlook for the DCP Midstream LP stock is 2.90 for the next 12 months. The average price target is 13.75% above its last price level and an upside to the estimated low will see the stock lose -81.0% over that period. But an upside of 36.65% will see the stock hit the forecast high price target while mean target price for the stock is $15.00.
Insiders at the company have transacted a total of 16 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 65,164,025 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in DCP Midstream LP are Alerian MLP ETF, Invesco Oppenheimer SteelPath MLP, and Invesco Oppenheimer SteelPath MLP. Alerian MLP ETF owns 10.69 million shares of the company’s stock, all valued at over $122.41 million. The company sold 3562.0 shares recently to bring their total holdings to about 5.13% of the shares outstanding. Invesco Oppenheimer SteelPath MLP sold -0.15 million shares to bring its total holdings to over 5.5 million shares at a value of $63.01 million. Invesco Oppenheimer SteelPath MLP now owns shares totaling to 2.64% of the shares outstanding.
Shares of DCP Midstream LP (NYSE: DCP) opened at $13.00, down -$0.15 from a prior closing price of $13.15. However, the script later closed the day at $12.67, down -3.65%. The company’s stock has a 5-day price change of -6.43% and 9.13% over the past three months. DCP shares are trading -48.26% year to date (YTD), with the 12-month market performance down to -47.99% lower. It has a 12-month low price of $2.20 and touched a high of $28.38 over the same period. Currently, 2.47 million shares have been traded, compared to an average intraday trading volume of 1.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.02%, 1.70%, and -13.06% respectively.
Institutional ownership of DCP Midstream LP (NYSE: DCP) shares accounts for 30.90% of the company’s 208.30M shares outstanding. Mutual fund holders own 56.81%, while other institutional holders and individual stakeholders account for 8.12% and 18.80% respectively.
It has a market capitalization of $2.60B and a beta (3y monthly) value of 3.85. The earnings-per-share (ttm) stands at -$4.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.65% over the week and 5.80% over the month.
Analysts forecast that DCP Midstream LP (DCP) will achieve an EPS of $0.35 for the current quarter, $0.36 for the next quarter and $1.32 for 2021. The lowest estimate earnings-per-share for the quarter is $0.16 while analysts give the company a high EPS estimate of $0.55. Comparatively, EPS for the current quarter was -$1.59 a year ago. Earnings per share for the fiscal year are expected to decrease by -272.10%, and 171.70% over the next financial year. EPS should grow at an annualized rate of 1.97% over the next five years, compared to -18.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate DCP Midstream LP (DCP) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 13 of the 16 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the DCP, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on July 13, 2020, with the firm’s price target at $8.50. Jefferies coverage for the DCP Midstream LP (DCP) stock in a research note released on June 23, 2020 offered a Hold rating with a price target of $13.50. UBS was of a view on April 27, 2020 that the stock is Sell, while Credit Suisse gave the stock Neutral rating on April 02, 2020, issuing a price target of $10- $7. Barclays on their part issued Underweight rating on March 24, 2020.