DCP Midstream LP Stock Research

Market Summary

USD41.60+0.02

Market Closed

0.05%

DCP Alerts

Big fall in Revenue (Y/Y)
Big jump in Earnings (Y/Y)

DCP Stock Price

DCP RSI Chart

DCP Valuation

Market Cap

8.2B

Price/Earnings (Trailing)

9.89

Price/Sales (Trailing)

0.59

EV/EBITDA

5.52

Price/Free Cashflow

8.03

DCP Price/Sales (Trailing)

DCP Profitability

EBT Margin

7.05%

Return on Assets

7.89%

Free Cashflow Yield

12.45%

DCP Fundamentals

DCP Revenue

Revenue (TTM)

14.3B

Revenue Y/Y

-19.23%

Revenue Q/Q

-10.03%

DCP Earnings

Earnings (TTM)

1.2B

Earnings Y/Y

160.49%

Earnings Q/Q

-19.16%

Price Action

52 Week Range

25.8242.15

(Low)(High)

Last 7 days

0.0%

Last 30 days

0.3%

Last 90 days

-0.5%

Trailing 12 Months

17.8%

DCP Financial Health

Current Ratio

0.68

DCP Investor Care

Peers (Alternatives to DCP Midstream)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ET	40.6B	88.4B	-3.03%	14.51%	8.97	1.48	24.63%	33.29%
WMB	37.0B	11.5B	-5.62%	-22.88%	18.04	3.37	9.33%	76.48%
KMI	36.2B	18.8B	-5.83%	-16.45%	14.14	1.93	19.77%	145.68%
CQP	28.8B	16.8B	-2.04%	-14.17%	20.75	2.2	55.52%	196.39%
OKE	25.7B	21.5B	-12.29%	-11.71%	14.9	1.2	14.23%	14.84%
MID-CAP
DCP	8.2B	14.3B	0.27%	17.84%	9.89	0.59	21.93%	146.67%
NFE	5.4B	2.4B	-12.68%	-44.68%	55.39	2.22	45.18%	-74.31%
ENLC	4.7B	9.1B	-0.82%	-12.65%	12.19	0.52	18.88%	446.66%
ETRN	3.6B	1.4B	59.42%	5.87%	-13.01	2.56	8.81%	80.31%
DKL	2.0B	1.1B	18.80%	2.03%	13.01	1.9	42.53%	-6.64%
SMALL-CAP
NS	1.9B	226.0M	3.36%	9.22%	8.53	8.41	436.62%	482.73%
RTLR	582.1M	-	19.84%	54.87%	15.22	1.44	-	-
VTNR	486.1M	3.4B	-18.86%	-55.98%	8.56	0.14	294.67%	439.41%
SMLP	202.8M	369.6M	-2.15%	-21.67%	-1.71	0.51	-7.74%	-284.00%

Financials for DCP Midstream

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	-4.3%	14,344	14,993	15,440	13,948	11,764
Gross Profit	25.9%	1,840	1,461	-	-	-
S&GA Expenses	8.7%	311	286	275	248	240
EBITDA	-3.9%	1,695	1,764	1,491	1,085	-
EBITDA Margin	-1.0%	0.11*	0.11*	0.09*	-	-
Earnings Before Taxes	12.4%	1,188	1,057	1,121	845	429
EBT Margin	-2.9%	0.07*	0.07*	0.04*	-	-
Interest Expenses	-1.1%	275	278	282	286	293
Net Income	12.5%	1,184	1,052	1,108	834	480
Net Income Margin	-2.2%	0.07*	0.07*	0.04*	-	-
Free Cahsflow	9.1%	1,636	1,499	1,025	722	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-3.4%	12,884	13,334	13,882	14,064	13,751
Current Assets	-25.4%	1,270	1,702	2,260	2,580	2,180
Cash Equivalents	300.0%	4.00	1.00	93.00	8.00	1.00
Inventory	-66.3%	28.00	83.00	45.00	108	46.00
Net PPE	-0.1%	7,759	7,763	7,736	7,586	7,632
Liabilities	-7.7%	6,736	7,298	7,496	7,914	7,880
Current Liabilities	-44.5%	1,389	2,504	2,741	2,847	2,580
LT Debt, Non Current	12.3%	4,892	4,357	4,317	4,622	4,838
Accumulated Depreciation	1.2%	5,846	5,776	-	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-2.9%	1,828	1,882	1,666	1,152	839
Cashflow From Investing	-16.4%	-455	-391	-310	-130	-104
Cashflow From Financing	7.9%	-1,370	-1,487	-1,266	-1,020	-742

Risks for DCP

What is the probability of a big loss on DCP?

86.5%

Probability that DCP Midstream stock will be more than 20% underwater in next one year

44.2%

Probability that DCP Midstream stock will be more than 30% underwater in next one year.

33.1%

Probability that DCP Midstream stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does DCP drawdown profile look like?

Y-axis is the maximum loss one would have experienced if DCP Midstream was unfortunately bought at previous high price.

Drawdowns

Returns for DCP

Cumulative Returns on DCP

7.0%

10-Year Cumulative Returns

11.9%

7-Year Cumulative Returns

8.1%

5-Year Cumulative Returns

64.9%

3-Year Cumulative Returns

What are the long-term rolling returns for DCP?

FIve years rolling returns for DCP Midstream.

Annualized Returns

Which funds bought or sold DCP recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	new	-	360,044	360,044	-%
2023-05-25	WATER ISLAND CAPITAL LLC	new	-	58,041,000	58,041,000	4.71%
2023-05-22	AMERIPRISE FINANCIAL INC	new	-	5,013,240	5,013,240	-%
2023-05-19	Coppell Advisory Solutions LLC	sold off	-100	-3,879	-	-%
2023-05-18	JPMORGAN CHASE & CO	added	89.31	166,826,000	327,842,000	0.04%
2023-05-18	SkyView Investment Advisors, LLC	unchanged	-	42,000	588,000	0.14%
2023-05-17	B. Riley Wealth Advisors, Inc.	added	0.02	34,186	485,638	0.01%
2023-05-16	SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC	sold off	-100	-417,613	-	-%
2023-05-16	Rockefeller Capital Management L.P.	unchanged	-	15,000	209,000	-%
2023-05-16	DIVIDEND ASSETS CAPITAL, LLC	unchanged	-	-	155,000	0.03%

Latest Funds Activity

Are funds buying DCP calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own DCP

No. of Funds

DCP Midstream News

Schedule 13G FIlings of DCP Midstream

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	alps advisors inc	6.46%	13,458,511	SC 13G/A
Jan 10, 2023	phillips 66	56.8%	118,359,981	SC 13D/A
Aug 26, 2022	phillips 66	56.8%	118,359,981	SC 13D/A
Feb 03, 2022	alps advisors inc	5.57%	11,603,538	SC 13G/A
Feb 09, 2021	alps advisors inc	5.46%	11,366,484	SC 13G/A
May 01, 2020	dcp midstream, llc	56.7%	118,359,981	SC 13D/A
Feb 14, 2020	harvest fund advisors llc	0.7%	1,029,775	SC 13G/A
Feb 07, 2020	alps advisors inc	5.17%	10,776,659	SC 13G/A
Nov 13, 2019	dcp midstream, llc	56.5%	117,762,526	SC 13D/A

DCP Fair Value

Show Fair-Value

Recent SEC filings of DCP Midstream

View All Filings

Date Filed	Form Type	Document
May 19, 2023	DEFM14C	DEFM14C
May 19, 2023	SC 13E3/A	SC 13E3/A
May 17, 2023	8-K	Current Report
May 12, 2023	PRER14C	PRER14C
May 12, 2023	SC 13E3/A	SC 13E3/A
May 04, 2023	10-Q	Quarterly Report
May 03, 2023	8-K	Current Report
Apr 28, 2023	SC 13E3/A	SC 13E3/A
Apr 28, 2023	PRER14C	PRER14C
Apr 21, 2023	8-K	Current Report

Latest Insider Trading transactions for DCP

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-03	Delmoro Scott Richard	back to issuer	-6,598	41.76	-158	principal financial officer
2023-03-03	Delmoro Scott Richard	sold (taxes)	-61,763	41.76	-1,479	principal financial officer
2023-03-03	Delmoro Scott Richard	acquired	219,658	41.76	5,260	principal financial officer
2023-03-03	Johnson William L.	back to issuer	-24,346	41.76	-583	president
2023-03-03	Johnson William L.	sold (taxes)	-134,258	41.76	-3,215	president
2023-03-03	Johnson William L.	acquired	486,922	41.76	11,660	president
2023-03-03	Green George R.	sold (taxes)	-41,300	41.76	-989	group vp & general counsel
2023-03-03	Green George R.	acquired	142,819	41.76	3,420	group vp & general counsel
2023-03-03	Loving Richard A.	sold (taxes)	-40,089	41.76	-960	vice president and controller
2023-03-03	Loving Richard A.	acquired	138,643	41.76	3,320	vice president and controller

About DCP Midstream

Wouter T. van Kempen

www.dcppartners.com

2650

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 through 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 35 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.

DCP Income Statement

2023-03-31

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating revenues:
Trading and marketing gains (losses), net	$ 87	$ (235)
Total operating revenues	2,726	3,375
Operating costs and expenses:
Operating and maintenance expense	197	152
Depreciation and amortization expense	90	90
General and administrative expense	80	55
Gain on sale of assets, net	0	(7)
Restructuring costs	10	0
Total operating costs and expenses	2,605	3,365
Operating income	121	10
Earnings from unconsolidated affiliates	160	143
Interest expense, net	(68)	(71)
Other (income) expenses, net	213	82
Income tax expense	(1)	(1)
Net income	212	81
Net income attributable to noncontrolling interests	(1)	(1)
Net income attributable to partners	211	80
Series A preferred limited partners' interest in net income	0	(9)
Series B preferred limited partners' interest in net income	(3)	(3)
Series C preferred limited partners' interest in net income	(2)	(2)
Net income allocable to limited partners	$ 206	$ 66
Net income per limited partner unit — basic and diluted	$ 0.99	$ 0.32
Weighted Average Limited Partnership Units Outstanding, Basic	208.6	208.4
Weighted Average Limited Partnership Units Outstanding, Diluted	208.6	208.8
Series A Preferred Limited Partners [Member]
Operating costs and expenses:
Net income		$ 9
Limited Partners
Operating costs and expenses:
Net income	$ 206	66
Natural Gas, NGLs and Condensate [Member] \| Third Party
Operating revenues:
Sales of natural gas, NGLs and condensate	1,743	2,328
Operating costs and expenses:
Purchases and related costs	1,852	2,719
Transportation, Processing and Other [Member]
Operating revenues:
Sales of natural gas, NGLs and condensate	163	155
Affiliated Entity \| Natural Gas, NGLs and Condensate [Member]
Operating revenues:
Sales of natural gas, NGLs and condensate	733	1,127
Operating costs and expenses:
Purchases and related costs	97	99
Affiliated Entity \| Transportation Fees
Operating costs and expenses:
Purchases and related costs	$ 279	$ 257

DCP Balance Sheet

2023-03-31

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1	$ 1
Accounts receivable:
Trade, net of allowance for credit losses of $2 and $2 million, respectively	707	995
Affiliates	389	360
Other	6	3
Inventories	28	83
Unrealized gains on derivative instruments	87	140
Collateral cash deposits	32	93
Other	20	27
Total current assets	1,270	1,702
Property, plant and equipment, net	7,759	7,763
Intangible assets, net	33	34
Investments in unconsolidated affiliates	3,458	3,475
Unrealized gains on derivative instruments	20	26
Operating lease assets	119	112
Other long-term assets	225	222
Total assets	12,884	13,334
Accounts payable:
Trade	709	1,199
Affiliates	298	255
Other	37	29
Current debt	7	506
Unrealized losses on derivative instruments	68	148
Accrued interest	65	78
Accrued taxes	58	58
Accrued wages and benefits	35	72
Capital spending accrual	12	22
Other	100	137
Total current liabilities	1,389	2,504
Long-term debt	4,892	4,357
Unrealized losses on derivative instruments	20	35
Deferred income taxes	33	33
Operating lease liabilities	100	95
Other long-term liabilities	302	274
Total liabilities	6,736	7,298
Equity:
Limited partners (208,649,649 and 208,396,558 common units authorized, issued and outstanding, respectively)	5,868	5,755
Accumulated other comprehensive loss	(6)	(6)
Total partners’ equity	6,124	6,011
Noncontrolling interests	24	25
Total equity	6,148	6,036
Total liabilities and equity	12,884	13,334
Allowance for Doubtful Accounts Receivable, Current	$ 2	$ 2
Common unitholders, units issued (in shares)	208,649,649	208,396,558
Common unitholders, units outstanding (in shares)	208,649,649	208,396,558
Series B Preferred Limited Partners [Member]
Equity:
Preferred Units, Preferred Partners' Capital Accounts	$ 156	$ 156
Total equity	$ 156	$ 156
Preferred Units, Issued	6,450,000	6,450,000
Preferred Units, Outstanding	6,450,000	6,450,000
Series C Preferred Limited Partners [Member]
Equity:
Preferred Units, Preferred Partners' Capital Accounts	$ 106	$ 106
Total equity	$ 106	$ 106
Preferred Units, Issued	4,400,000	4,400,000
Preferred Units, Outstanding	4,400,000	4,400,000