DCP Midstream, LP (NYSE:DCP) Sees Significant Decline in Short Interest

DCP Midstream, LP (NYSE:DCP) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 3,710,000 shares, a decline of 21.2% from the September 15th total of 4,710,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 3.4 days. Approximately 4.2% of the shares of the stock are short sold.

Shares of NYSE:DCP traded down $0.07 during midday trading on Friday, hitting $13.06. The company had a trading volume of 769,564 shares, compared to its average volume of 1,786,626. DCP Midstream has a 12-month low of $2.20 and a 12-month high of $26.26. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.99 and a quick ratio of 0.95. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -3.09 and a beta of 3.89. The company has a fifty day moving average of $11.70 and a two-hundred day moving average of $10.76.

DCP Midstream (NYSE:DCP) last issued its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.06). DCP Midstream had a positive return on equity of 5.79% and a negative net margin of 10.37%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Research analysts expect that DCP Midstream will post 1.19 earnings per share for the current fiscal year.

Several research analysts have recently commented on DCP shares. ValuEngine downgraded DCP Midstream from a “sell” rating to a “strong sell” rating in a report on Thursday, October 1st. Jefferies Financial Group downgraded DCP Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $10.00 to $13.50 in a report on Tuesday, June 23rd. Wells Fargo & Company lifted their price objective on DCP Midstream from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. US Capital Advisors upgraded DCP Midstream from a “hold” rating to an “overweight” rating in a report on Friday, August 14th. Finally, Credit Suisse Group lifted their price objective on DCP Midstream from $12.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.17.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new position in shares of DCP Midstream during the 2nd quarter valued at about $72,000. US Bancorp DE lifted its holdings in shares of DCP Midstream by 1,302.9% in the 1st quarter. US Bancorp DE now owns 27,161 shares of the pipeline company’s stock valued at $111,000 after acquiring an additional 25,225 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of DCP Midstream in the 2nd quarter valued at about $115,000. Royal Bank of Canada lifted its holdings in shares of DCP Midstream by 18.3% in the 1st quarter. Royal Bank of Canada now owns 30,996 shares of the pipeline company’s stock valued at $126,000 after acquiring an additional 4,788 shares during the last quarter. Finally, Cincinnati Insurance Co. bought a new position in shares of DCP Midstream in the 2nd quarter valued at about $127,000. 27.28% of the stock is owned by institutional investors and hedge funds.

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.

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