DCP Midstream said on January 24, 2023 that its board of directors declared a regular quarterly dividend of $0.43 per share ($1.72 annualized). Shareholders of record as of February 2, 2023 will receive the payment on February 14, 2023. Previously, the company paid $0.43 per share.

At the most recent share price of $42.02 / share, the stock’s dividend yield was 4.09%. Additionally, the company’s dividend payout ratio is 0.32, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is -0.45%.

Analyst Price Forecast Suggests 0.23% Downside

As of January 30, 2023, the average one-year price target for DCP Midstream is $41.92. The forecasts range from a low of $38.38 to a high of $44.10. The average price target represents a decrease of 0.23% from its latest reported closing price of $42.02.

The projected annual revenue for DCP Midstream is $11,201MM, a decrease of 28.25%. The projected annual EPS is $4.82, a decrease of 4.00%.

Fund Sentiment

There are 209 funds or institutions reporting positions in DCP Midstream. This is a decrease of 5 owner(s) or 2.34%.

Average portfolio weight of all funds dedicated to US:DCP is 0.8498%, a decrease of 9.8244%. Total shares owned by institutions decreased in the last three months by 1.09% to 104,252K shares.

What are large shareholders doing?

AMLP – ALERIAN MLP ETF holds 13,288,598 shares representing 6.38% ownership of the company. In it’s prior filing, the firm reported owning 13,793,606 shares, representing a decrease of 3.80%. The firm increased its portfolio allocation in DCP by 6.19% over the last quarter.

Alps Advisors holds 12,889,879 shares representing 6.19% ownership of the company. In it’s prior filing, the firm reported owning 13,204,470 shares, representing a decrease of 2.44%. The firm increased its portfolio allocation in DCP by 20.65% over the last quarter.

Tortoise Capital Advisors, L.l.c. holds 8,891,709 shares representing 4.27% ownership of the company. In it’s prior filing, the firm reported owning 9,173,779 shares, representing a decrease of 3.17%. The firm increased its portfolio allocation in DCP by 46.33% over the last quarter.

Blackstone Group holds 8,075,351 shares representing 3.87% ownership of the company. In it’s prior filing, the firm reported owning 8,125,142 shares, representing a decrease of 0.62%. The firm increased its portfolio allocation in DCP by 40.63% over the last quarter.

Goldman Sachs Group holds 6,405,719 shares representing 3.07% ownership of the company. In it’s prior filing, the firm reported owning 5,059,969 shares, representing an increase of 21.01%. The firm increased its portfolio allocation in DCP by 64.51% over the last quarter.

DCP Midstream Background Information
(This description is provided by the company.)

DCP Midstream, LP is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66.

This article originally appeared on Fintel

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