DCP Midstream LP - Unit (DCP) Declares $0.43 Dividend

DCP Midstream LP - Unit said on April 19, 2023 that its board of directors declared a regular quarterly dividend of $0.43 per share ($1.72 annualized). Previously, the company paid $0.43 per share.

Shares must be purchased before the ex-div date of April 28, 2023 to qualify for the dividend. Shareholders of record as of May 1, 2023 will receive the payment on May 15, 2023.

At the current share price of $41.85 / share, the stock's dividend yield is 4.11%. Looking back five years and taking a sample every week, the average dividend yield has been 9.98%, the lowest has been 4.07%, and the highest has been 93.13%. The standard deviation of yields is 10.25 (n=236).

The current dividend yield is 0.57 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

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

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What is the Fund Sentiment?

There are 213 funds or institutions reporting positions in DCP Midstream LP - Unit. This is an increase of 5 owner(s) or 2.40% in the last quarter. Average portfolio weight of all funds dedicated to DCP is 0.83%, a decrease of 5.58%. Total shares owned by institutions decreased in the last three months by 0.70% to 103,632K shares. The put/call ratio of DCP is 0.71, indicating a bullish outlook.

Analyst Price Forecast Suggests 0.17% Upside

As of April 6, 2023, the average one-year price target for DCP Midstream LP - Unit is $41.92. The forecasts range from a low of $38.38 to a high of $44.10. The average price target represents an increase of 0.17% from its latest reported closing price of $41.85.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for DCP Midstream LP - Unit is $11,201MM, a decrease of 26.29%. The projected annual non-GAAP EPS is $4.82.

What are Other Shareholders Doing?

Barclays holds 1,691K shares representing 0.81% ownership of the company. In it's prior filing, the firm reported owning 1,792K shares, representing a decrease of 5.97%. The firm decreased its portfolio allocation in DCP by 99.96% over the last quarter.

Cowen And Company holds 1,517K shares representing 0.73% ownership of the company.

Morgan Stanley holds 6,968K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 4,068K shares, representing an increase of 41.61%. The firm increased its portfolio allocation in DCP by 47.36% over the last quarter.

Lavaca Capital holds 28K shares representing 0.01% ownership of the company. No change in the last quarter.

MLPEX - Invesco Oppenheimer SteelPath MLP Select 40 Fund Class C holds 1,003K shares representing 0.48% ownership of the company. In it's prior filing, the firm reported owning 903K shares, representing an increase of 9.97%. The firm increased its portfolio allocation in DCP by 13.84% 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 story originally appeared on Fintel.