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DCP Midstream LP (DCP) Files 10-K for the Fiscal Year Ended on December 31, 2018

- By insider

DCP Midstream LP (DCP) files its latest 10-K with SEC for the fiscal year ended on December 31, 2018. DCP Midstream LP is a midstream master limited partnership. It is engaged in gathering, compressing, treating, processing, transporting, storing and selling natural gas, Natural Gas Liquids and condensate. DCP Midstream LP has a market cap of $4.59 billion; its shares were traded at around $32.00 with a P/E ratio of 52.48 and P/S ratio of 0.48. The dividend yield of DCP Midstream LP stocks is 9.76%.


For the last quarter DCP Midstream LP reported a revenue of $2.6 billion, compared with the revenue of $2.3 billion during the same period a year ago. For the latest fiscal year the company reported a revenue of $9.8 billion, an increase of 16.1% from last year. For the last five years DCP Midstream LP had an average revenue growth rate of 26.8% a year.

The reported diluted earnings per share was 61 cents for the year, an increase of 41.9% from previous year. Over the last five years DCP Midstream LP had an average EPS decline of 22.7% a year. The DCP Midstream LP had an operating margin of 3.75%, compared with the operating margin of 2.79% a year before. The 10-year historical median operating margin of DCP Midstream LP is 5.10%. The profitability rank of the company is 6 (out of 10).

At the end of the fiscal year, DCP Midstream LP has the cash and cash equivalents of $1.00 million, compared with $156.0 million in the previous year. The long term debt was $4.8 billion, compared with $4.7 billion in the previous year. The interest coverage to the debt is 2.9, which is not a favorable level. DCP Midstream LP has a financial strength rank of 5 (out of 10).

At the current stock price of $32.00, DCP Midstream LP is traded at 22.6% discount to its historical median P/S valuation band of $41.33. The P/S ratio of the stock is 0.48, while the historical median P/S ratio is 0.62. The stock gained 1.05% during the past 12 months.

For the complete 20-year historical financial data of DCP, click here.

This article first appeared on GuruFocus.