Moody National Bank Trust Division Decreases Stake in DCP Midstream, LP (NYSE:DCP)

Moody National Bank Trust Division decreased its position in shares of DCP Midstream, LP (NYSE:DCPGet Rating) by 46.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,775 shares of the pipeline company’s stock after selling 6,800 shares during the period. Moody National Bank Trust Division’s holdings in DCP Midstream were worth $230,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DCP. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of DCP Midstream by 1.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 27,000 shares of the pipeline company’s stock valued at $906,000 after purchasing an additional 300 shares during the period. Cetera Investment Advisers increased its holdings in shares of DCP Midstream by 1.7% in the fourth quarter. Cetera Investment Advisers now owns 22,364 shares of the pipeline company’s stock valued at $615,000 after purchasing an additional 367 shares during the period. Royal Bank of Canada increased its holdings in shares of DCP Midstream by 0.7% in the first quarter. Royal Bank of Canada now owns 77,192 shares of the pipeline company’s stock valued at $2,591,000 after purchasing an additional 512 shares during the period. Tcwp LLC acquired a new position in shares of DCP Midstream in the first quarter valued at approximately $25,000. Finally, Van ECK Associates Corp increased its holdings in shares of DCP Midstream by 9.9% in the first quarter. Van ECK Associates Corp now owns 8,928 shares of the pipeline company’s stock valued at $300,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds own 35.49% of the company’s stock.

DCP Midstream Stock Up 1.0 %

DCP opened at $38.68 on Wednesday. The business’s fifty day moving average is $35.58 and its two-hundred day moving average is $34.13. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 10.43 and a beta of 2.75. DCP Midstream, LP has a one year low of $23.58 and a one year high of $39.54.

DCP Midstream Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, July 28th. This represents a $1.72 dividend on an annualized basis and a yield of 4.45%. DCP Midstream’s payout ratio is 46.36%.

Insiders Place Their Bets

In other DCP Midstream news, Director Clifford Todd Denton sold 2,750 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $39.23, for a total transaction of $107,882.50. Following the sale, the director now directly owns 2,750 shares in the company, valued at $107,882.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays boosted their target price on DCP Midstream from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th. Mizuho upped their price objective on DCP Midstream from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. StockNews.com lowered DCP Midstream from a “strong-buy” rating to a “buy” rating in a report on Friday, August 19th. Finally, Royal Bank of Canada lowered DCP Midstream from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $41.00 to $38.00 in a report on Thursday, August 18th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $38.88.

DCP Midstream Profile

(Get Rating)

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 through 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); and fractionating NGLs.

See Also

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Institutional Ownership by Quarter for DCP Midstream (NYSE:DCP)

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