The stock of DCP Midstream, LP (NYSE:DCP) is now priced at $12.67 and the shares are -0.48 points down or -3.65% lower compared to its previous closing price of $13.15. The stock had 2.463 million contracts set over the past session. DCP shares’ daily volume is compared to its average trading volume at 1.264 million shares. However, it has a float of 89.76 million and although its performance was -6.43% over the week, it’s one to watch. Analysts have given the DCP stock a yearly average price target of $14.69 per share. It means the stock’s upside potential is 15.94% with the DCP share price recently placing at $12.39 to $13. However, some brokerage firms have priced the stock below the average, including one that has called $7.
The shorts are running away from the DCP Midstream, LP stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DCP shares have declined. Short interest in the stock represents just 5.85% of its float, but the volume has dropped by 0.
In the last trading session, DCP Midstream, LP (NYSE:DCP) dropped by -$0.87 over the week and gained $1.23 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $28.38. The stock recorded its established 52-week high on 09/16/19.
Since 03/18/20, the stock has traded to a low of $2.2 at 475.88%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 3.85. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, DCP Midstream, LP’s two-week RSI is 46.89. This suggests that the stock is neutral at the moment and that DCP shares’ price movement remains stable. The stochastic readings are equally revealing at 18.8% meaning the DCP share price is currently in overbought territory.
The technical chart shows that the DCP stock will likely settle at between $12.98 and $13.3 per share. However, if the stock dips below $12.37, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.08.
Currently, the stock is trading in the red of MACD, with a reading of -0.33. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at UBS raised their recommendation for DCP from Sell to Neutral in July 13 review while maintain their target price of $8.5. Jefferies analysts downgraded their recommendation of the stock from Buy to Hold while keeping its target price at $13.5 in a flash note released to investors on June 23. UBS seeing the stock struggling downgraded it from Neutral to Sell on April 27 placing it at $6.
The average rating for the DCP equity is 3 and is currently gathering a bullish momentum. Of 15 analysts tracking DCP Midstream, LP polled by Reuters, 12 rated DCP as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the DCP stock price is 9.58X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 40.8. DCP Midstream, LP has its P/E ratio at 0.5, which means that the stock is currently trading at a discount relative to the 1.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for DCP Midstream, LP (NYSE:DCP) will increase by about 35.05%, which will see them reach $1730 million. The company’s full-year revenues are, however, expected to increase by about 0.13%, up from $7620 million to $7630 million. DCP’s expected adjusted earnings should drop almost -122.01% to end up at $0.35 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 75.24% to record -$1.84/share.