What’s in DCP Midstream, LP (DCP) After Forming Double Top?

June 16, 2018 - By Vivian Currie

The chart of DCP Midstream, LP (DCP) shows a double top with $40.29 target or 5.00 % above today’s $38.37 share price. The 7 months chart pattern indicates low risk for the $5.61B company. It was reported on Jun, 16 by Finviz.com. If the $40.29 price target is reached, the company will be worth $280.55 million more. Double tops are rare but powerful chart patterns.

The stock decreased 4.10% or $1.64 during the last trading session, reaching $38.37. About 1.07M shares traded or 97.73% up from the average. DCP Midstream, LP (NYSE:DCP) has risen 12.85% since June 16, 2017 and is uptrending. It has outperformed by 0.28% the S&P500.

Analysts await DCP Midstream, LP (NYSE:DCP) to report earnings on August, 6. They expect $0.25 EPS, up 38.89 % or $0.07 from last year’s $0.18 per share. DCP’s profit will be $36.56 million for 38.37 P/E if the $0.25 EPS becomes a reality. After $0.08 actual EPS reported by DCP Midstream, LP for the previous quarter, Wall Street now forecasts 212.50 % EPS growth.

More notable recent DCP Midstream, LP (NYSE:DCP) news were published by: Globenewswire.com which released: “DCP Midstream Listed as a 2018 Fortune 500 Company” on May 21, 2018, also Fool.com with their article: “Phillips 66 Refills Its Growth Engine” published on June 14, 2018, Globenewswire.com published: “DCP Midstream Continues to Extend Its Value Chain by Securing Option for Ownership in Expansion of Sweeny Hub …” on June 13, 2018. More interesting news about DCP Midstream, LP (NYSE:DCP) were released by: Fool.com and their article: “Energy Investors Are Overlooking Kinder Morgan’s Huge Growth Opportunity” published on June 11, 2018 as well as Seekingalpha.com‘s news article titled: “DCP Midstream LP: 7.875% Preferred Units Begin Trading On NYSE” with publication date: May 21, 2018.

DCP Midstream, LP, together with its subsidiaries, owns, operates, acquires, and develops a portfolio of midstream energy assets in the United States. The company has market cap of $5.61 billion. The firm operates in two divisions, Gathering and Processing, and Logistics and Marketing. It has a 90.07 P/E ratio. The Gathering and Processing segment is involved in gathering, compressing, treating, and processing natural gas; producing and fractionating natural gas liquids ; and recovering condensate.

DCP Midstream, LP (NYSE:DCP) Institutional Positions Chart

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