There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 9, DCP Midstream LP's Director, Fred J. Fowler, invested $148,320.00 into 6,000 shares of DCP, for a cost per share of $24.72. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Wednesday, bargain hunters could buy shares of DCP Midstream LP (Symbol: DCP) and achieve a cost basis even cheaper than Fowler, with shares changing hands as low as $24.57 per share. DCP Midstream LP shares are currently trading off about 3.2% on the day. The chart below shows the one year performance of DCP shares, versus its 200 day moving average:
Looking at the chart above, DCP's low point in its 52 week range is $24.1808 per share, with $43.99 as the 52 week high point — that compares with a last trade of $24.51. By comparison, below is a table showing the prices at which DCP insider buying was recorded over the last six months:
|08/09/2019||Fred J. Fowler||Director||6,000||$24.72||$148,320.00|
The current annualized dividend paid by DCP Midstream LP is $3.12/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 08/01/2019. Below is a long-term dividend history chart for DCP, which can be of good help in judging whether the most recent dividend with approx. 12.3% annualized yield is likely to continue.
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