DCP Midstream LP rose 6.6% during the afternoon session to $41.93 per share. As reported by Reuters: "Phillips 66 buys public units of pipeline operator DCP Midstream for ... ..." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.
DCP Midstream, LP, together with its subsidiaries, owns, operates, acquires, and develops a portfolio of midstream energy assets in the United States. The company belongs to the Energy sector, which has an average price to earnings (P/E) ratio of 9.11 and an average price to book (P/B) ratio of 1.45. In contrast, DCP Midstream LP has a trailing 12 month P/E ratio of -23.9 and a P/B ratio of 1.7.
At today's price of $41.93 per share, DCP Midstream LP is -5.07% away from its target price of $44.17, and on average, analysts give the stock a rating of buy. 5.4% of the company's shares are linked to short positions, and 35.9% of the shares are owned by institutional investors.