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); and fractionating NGLs. The Gathering and Processing segment is involved in gathering, compressing, treating, and processing natural gas; producing and fractionating NGLs; and recovering condensate. The company owns and operates approximately 39 natural gas processing plants. It serves petrochemical and refining companies, and retail propane distributors. The company was formerly known as DCP Midstream Partners, LP and changed its name to DCP Midstream, LP in January 2017. DCP Midstream, LP was incorporated in 2005 and is headquartered in Denver, Colorado.
IPO Year: n/a
Exchange: NYSE
Website: dcpmidstream.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/11/2022 | $39.00 | Overweight → Equal Weight | Wells Fargo |
| 11/2/2022 | $45.00 | Overweight → Neutral | JP Morgan |
| 8/18/2022 | $41.00 → $38.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 7/12/2022 | $47.00 → $40.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 4/4/2022 | In-line → Outperform | Evercore ISI | |
| 2/11/2022 | $39.00 → $40.00 | Strong Buy | Raymond James |
| 1/20/2022 | $38.00 → $35.00 | Overweight | Barclays |
| 12/17/2021 | $28.00 → $34.00 | Neutral → Buy | Mizuho |
| 12/17/2021 | $34.00 → $35.00 | Neutral → Buy | Mizuho |
| 12/17/2021 | $28.00 → $34.00 | Neutral → Buy | Citigroup |
8-K - DCP Midstream, LP (0001338065) (Filer)
25-NSE - DCP Midstream, LP (0001338065) (Subject)
8-K - DCP Midstream, LP (0001338065) (Filer)
10-Q - DCP Midstream, LP (0001338065) (Filer)
8-K - DCP Midstream, LP (0001338065) (Filer)
15-12G - DCP Midstream, LP (0001338065) (Filer)
EFFECT - DCP Midstream, LP (0001338065) (Filer)
EFFECT - DCP Midstream, LP (0001338065) (Filer)
POS AM - DCP Midstream, LP (0001338065) (Filer)
S-8 POS - DCP Midstream, LP (0001338065) (Filer)
Wells Fargo downgraded DCP Midstream from Overweight to Equal Weight and set a new price target of $39.00
JP Morgan downgraded DCP Midstream from Overweight to Neutral and set a new price target of $45.00
RBC Capital Mkts downgraded DCP Midstream from Outperform to Sector Perform and set a new price target of $38.00 from $41.00 previously
RBC Capital Mkts upgraded DCP Midstream from Sector Perform to Outperform and set a new price target of $40.00 from $47.00 previously
Evercore ISI upgraded DCP Midstream from In-line to Outperform
Raymond James reiterated coverage of DCP Midstream with a rating of Strong Buy and set a new price target of $40.00 from $39.00 previously
Barclays reiterated coverage of DCP Midstream with a rating of Overweight and set a new price target of $35.00 from $38.00 previously
Mizuho upgraded DCP Midstream from Neutral to Buy and set a new price target of $34.00 from $28.00 previously
Mizuho upgraded DCP Midstream from Neutral to Buy and set a new price target of $35.00 from $34.00 previously
Citigroup upgraded DCP Midstream from Neutral to Buy and set a new price target of $34.00 from $28.00 previously
Phillips 66 (NYSE:PSX) and DCP Midstream, LP (NYSE:DCP) completed the previously announced acquisition by Phillips 66 of all the publicly held common units representing limited partner interests in DCP Midstream for $41.75 per common unit in cash at a total value of approximately $3.8 billion, increasing its economic interest in DCP Midstream to 86.8%. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230614491693/en/ Effective with the opening of markets today, DCP Midstream's common units will no longer be listed on the New York Stock Exchange. About Phillips 66 and DCP Midstream Phillips 66 (NYSE:PSX) manufactures, transport
LEAWOOD, KS / ACCESSWIRE / June 13, 2023 / TortoiseEcofin today announced that DCP Midstream, LP (NYSE:DCP) will be removed from the Tortoise MLP Index® (TMLP), the Tortoise North American Pipeline IndexSM (TNAP) and Tortoise Decarbonization Infrastructure IndexSM (DCRBN) as a result of the approved acquisition by Phillips 66 (NYSE:PSX). Due to the acquisition, DCP will be removed from all three indices at market open on Thursday, June 15, 2023.DCP will be dropped from Tortoise MLP Index® (TMLP) with a special rebalancing. Special rebalancing is not required for Tortoise North American Pipeline IndexSM (TNAP) and Tortoise Decarbonization Infrastructure IndexSM (DCRBN) and the deleted constit
DENVER, May 03, 2023 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE:DCP) reported its financial results for the three months ended March 31, 2023. HIGHLIGHTS For the three months ended March 31, 2023, DCP had net income attributable to partners of $211 million, net cash provided by operating activities of $135 million, adjusted EBITDA of $338 million, and distributable cash flow of $230 million.Generated $93 million of excess free cash flow for the three months ended March 31, 2023, after fully funding distributions and growth capital. FIRST QUARTER 2023 SUMMARY FINANCIAL RESULTS Three Months EndedMarch 31, 2023 2022 (Unaudited) (Millions, except per unit amounts) Net i
DENVER, April 19, 2023 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) announced today that the board of directors of its general partner declared a first quarter 2023 Common Unit cash distribution of $0.43 per unit. This quarterly Common Unit distribution will be paid May 15, 2023 to common unitholders of record at the close of business on May 1, 2023. In addition, the board of directors declared distributions for preferred units. A quarterly Series B Preferred Unit cash distribution of $0.4922 per unit will be paid June 15, 2023 to preferred unitholders of record at the close of business on June 1, 2023. A quarterly Series C Preferred Unit cash distribution of $0.4969 per unit will b
DENVER, Feb. 17, 2023 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) has filed its Form 10-K for the fiscal year ended December 31, 2022 with the Securities and Exchange Commission. A copy of the Form 10-K, which contains our audited financial statements, is available on the investor section of our website at www.dcpmidstream.com. Investors may request a hardcopy of the Form 10-K free of charge by sending a request to the office of the Corporate Secretary of DCP Midstream at 6900 E. Layton Ave, Suite 900, Denver, Colorado 80237. About DCP Midstream, LP DCP Midstream, LP (NYSE:DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversif
DENVER, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE:DCP) reported its financial results for the quarter and year ended December 31, 2022. HIGHLIGHTS For the respective quarter and year ended December 31, 2022, DCP had net income attributable to partners of $261 million and $1,052 million, net cash provided by operating activities of $607 million and $1,882 million, adjusted EBITDA of $347 million and $1,699 million, and distributable cash flow of $213 million and $1,243 million.Generated $62 million and $615 million of excess free cash flow for the quarter and year ended December 31, 2022, respectively, after fully funding distributions and growth capital, inclusive
DENVER, Jan. 24, 2023 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) announced today that the board of directors of its general partner declared a fourth quarter 2022 Common Unit cash distribution of $0.43 per unit, or $1.72 per unit on an annualized basis. This quarterly Common Unit distribution will be paid February 14, 2023 to common unitholders of record at the close of business on February 3, 2023. In addition, the board of directors declared distributions for preferred units. A quarterly Series B Preferred Unit cash distribution of $0.4922 per unit will be paid March 15, 2023 to preferred unitholders of record at the close of business on March 1, 2023. A quarterly Series C Prefe
Increases Phillips 66's economic interest in DCP Midstream, LP to 86.8% Targeted operational and commercial synergies of at least $300 million All-cash transaction expected to close in the second quarter of 2023 Phillips 66 (NYSE:PSX) and DCP Midstream, LP ("DCP Midstream") (NYSE:DCP) announced today that they have entered into a definitive agreement pursuant to which Phillips 66 will acquire all of the publicly held common units representing limited partner interests in DCP Midstream for cash consideration of $41.75 per common unit, increasing its economic interest in DCP Midstream to 86.8%. This press release features multimedia. View the full release here: https://www.businesswire
DENVER, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE:DCP) reported its financial results for the three and nine months ended September 30, 2022. HIGHLIGHTS For the respective three and nine months ended September 30, 2022, DCP had net income attributable to partners of $328 million and $791 million, net cash provided by operating activities of $701 million and $1,275 million, adjusted EBITDA of $439 million and $1,352 million, and distributable cash flow of $324 million and $1,030 million.Generated $52 million and $553 million of excess free cash flow for the three and nine months ended September 30, 2022, respectively, after fully funding distributions and growth cap
DENVER, Oct. 13, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) announced today that the board of directors of its general partner declared a third quarter 2022 Common Unit cash distribution of $0.43 per unit, or $1.72 per unit on an annualized basis. This quarterly Common Unit distribution will be paid November 14, 2022 to common unitholders of record at the close of business on October 28, 2022. In addition, the board of directors declared distributions for preferred units. A semi-annual Series A Preferred Unit cash distribution of $36.875 per unit will be paid December 15, 2022 to preferred unitholders of record at the close of business on December 1, 2022. A quarterly Series
SC 13G/A - DCP Midstream, LP (0001338065) (Subject)
SC 13G/A - DCP Midstream, LP (0001338065) (Subject)
SC 13G/A - DCP Midstream, LP (0001338065) (Subject)
Increases Phillips 66's economic interest in DCP Midstream, LP to 86.8% Targeted operational and commercial synergies of at least $300 million All-cash transaction expected to close in the second quarter of 2023 Phillips 66 (NYSE:PSX) and DCP Midstream, LP ("DCP Midstream") (NYSE:DCP) announced today that they have entered into a definitive agreement pursuant to which Phillips 66 will acquire all of the publicly held common units representing limited partner interests in DCP Midstream for cash consideration of $41.75 per common unit, increasing its economic interest in DCP Midstream to 86.8%. This press release features multimedia. View the full release here: https://www.businesswire
DENVER, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE:DCP) reported its financial results for the three and six months ended June 30, 2022. HIGHLIGHTS For the respective three and six months ended June 30, 2022, DCP had net income attributable to partners of $383 million and $463 million, net cash provided by operating activities of $385 million and $574 million, adjusted EBITDA of $477 million and $913 million, and distributable cash flow of $369 million and $706 million.Generated $254 million and $501 million of excess free cash flow for the three and six months ended June 30, 2022, respectively, after fully funding distributions and growth capital.Record financial p
DENVER, July 20, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) has changed the time of the conference call to discuss its second quarter 2022 earnings due to a scheduling conflict. The conference call will now be held at 12:00 p.m. ET on Wednesday, August 3, 2022. As previously announced, the corresponding earnings release will be issued after the New York Stock Exchange closes for trading on Tuesday, August 2, 2022. The live audio webcast, along with accompanying presentation slides, will be available on the Investors section of the DCP website at www.dcpmidstream.com. If participants would prefer to join by phone or would like to take part in the question and answer portion of t
DENVER, July 13, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) announced that its second quarter 2022 earnings will be reported after the New York Stock Exchange closes for trading on Tuesday, August 2, 2022, and a conference call to discuss second quarter earnings will be hosted at 10:00 a.m. ET on Wednesday, August 3, 2022. The live audio webcast, along with accompanying presentation slides, will be available on the Investors section of the DCP website at www.dcpmidstream.com. If participants would prefer to join by phone or would like to take part in the question and answer session, they should pre-register here to receive dial-in credentials. To avoid delays, we encourage pa
DENVER, May 04, 2022 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE:DCP) reported its financial results for the three months ended March 31, 2022. HIGHLIGHTS For the three months ended March 31, 2022, DCP had net income attributable to partners of $80 million, net cash provided by operating activities of $189 million, adjusted EBITDA of $436 million, and distributable cash flow of $337 million.Generated $247 million of excess free cash flow for the three months ended March 31, 2022, after fully funding distributions and growth capital.Record financial performance with increases in adjusted EBITDA of 32%, distributable cash flow of 54%, and excess free cash flow of 102% quarter over q
DENVER, April 14, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) announced that its first quarter 2022 earnings will be reported after the New York Stock Exchange closes for trading on Wednesday, May 4, 2022, and a conference call to discuss first quarter earnings will be hosted at 10:00 a.m. ET on Thursday, May 5, 2022. The live audio webcast of the conference call and accompanying presentation slides will be accessible through the Investors section on the DCP website at www.dcpmidstream.com, and the conference call can be accessed by dialing (844) 233-0113 in the United States or (574) 990-1008 outside the United States. The conference ID number is 6996372. A replay of the confe
DENVER, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE:DCP) reported its financial results for the quarter and year ended December 31, 2021. HIGHLIGHTS For the quarter and year ended December 31, 2021, DCP had net income attributable to partners of $315 million and $391 million, net cash provided by operating activities of $391 million and $646 million, adjusted EBITDA of $330 million and $1,291 million, and distributable cash flow of $219 million and $869 million.Generated $122 million and $500 million of excess free cash flow for the quarter and year ended December 31, 2021, after fully funding distributions and growth capital.Fourth quarter earnings benefited
DENVER, Jan. 17, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) announced that its fourth quarter 2021 earnings will be reported after the New York Stock Exchange closes for trading on Wednesday, February 9, 2022, and a conference call to discuss fourth quarter and full year 2021 earnings and 2022 guidance will be hosted at 10:00 a.m. ET on Thursday, February 10, 2022. The live audio webcast of the conference call and accompanying presentation slides will be accessible through the Investors section on the DCP website at www.dcpmidstream.com, and the conference call can be accessed by dialing (844) 233-0113 in the United States or (574) 990-1008 outside the United States. The conf
DENVER, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE:DCP) reported its financial results for the three and nine months ended September 30, 2021. HIGHLIGHTS For the respective three and nine months ended September 30, 2021, DCP had net income attributable to partners of $54 million and $76 million, net cash provided by operating activities of $187 million and $255 million, adjusted EBITDA of $353 million and $961 million, and distributable cash flow of $250 million and $650 million.Third quarter adjusted EBITDA and DCF increased by 6% and 11%, respectively, from the second quarter 2021.Generated $157 million of excess free cash flow for the three months ended September
DENVER, Oct. 12, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE:DCP) today announced common and preferred unit distributions for third quarter 2021. Further, DCP announced that its third quarter 2021 earnings will be reported after the New York Stock Exchange closes for trading on Tuesday, November 2, 2021, and a conference call to discuss quarterly earnings will be hosted at 10:00 a.m. ET on Wednesday, November 3, 2021. Third Quarter Distribution Declaration The board of directors of DCP's general partner declared a third quarter 2021 Common Unit distribution of $0.39 per unit, or $1.56 per unit on an annualized basis. This quarterly Common Unit cash distribution will be paid November
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