DCP - DCP STOCK NEWS

DCP Midstream reported strong first-quarter financial results for 2022, achieving a net income of $80 million, a 32% increase in adjusted EBITDA to $436 million, and a 54% rise in distributable cash flow to $337 million. Excess free cash flow reached $247 million. The company also announced a quarterly common unit distribution of $0.39 per unit. Strong commodity prices position DCP to exceed financial guidance for the year, while they closed the quarter with a leverage ratio of 3.3 times and renewed a $1.4 billion credit facility linked to sustainability goals.

DCP Midstream, LP (NYSE: DCP) announced a first quarter 2022 Common Unit cash distribution of $0.39 per unit, amounting to $1.56 per unit on an annualized basis. This payment will be made on May 13, 2022 to record holders by April 29, 2022.

Additionally, the company declared cash distributions for preferred units: a semi-annual Series A distribution of $36.875 per unit, a quarterly Series B distribution of $0.4922 per unit, and a quarterly Series C distribution of $0.4969 per unit, with payment dates set for June 15 and July 15, 2022.

DCP Midstream, LP (NYSE: DCP) is set to release its first quarter 2022 earnings after the market closes on May 4, 2022. This will be followed by a conference call at 10:00 a.m. ET on May 5, 2022, to discuss the earnings report. Investors can access the live audio webcast via the DCP website and participate in the call by dialing the provided numbers. A replay will be available until May 12, 2022. DCP is a major player in the midstream sector, focusing on natural gas liquids production and processing.

DCP Midstream has partnered with NetSpring to enhance its operational capabilities through advanced streaming analytics solutions. This collaboration aims to unlock new insights from IoT operational data, driving operational excellence within the energy sector. The initial deployment involves an operational assurance solution that identifies critical operating issues and sends real-time notifications to stakeholders, facilitating prompt responses. This strategic partnership underscores DCP's commitment to leveraging data for improved service and operational efficiency.

DCP Midstream announced that Wouter van Kempen, the chairman and CEO, will hold virtual meetings with investors at the 6th Annual Mizuho Energy Summit on March 15, 2022. Conference materials will be available prior to the event on their website. DCP Midstream, a Fortune 500 company headquartered in Denver, is a leading midstream service provider, specializing in natural gas liquids production and processing.

For more details, visit their official site at www.dcpmidstream.com.

DCP Midstream, LP (NYSE: DCP) announced that its chairman and CEO, Wouter van Kempen, along with CFO Sean O’Brien, will engage in a fireside chat and hold multiple one-on-one meetings at the 27th Annual Credit Suisse Energy Summit in Vail, Colorado, on February 28, 2022. Relevant materials for the conference will be available on DCP Midstream’s investor relations website prior to the event. DCP Midstream is a leading midstream master limited partnership based in Denver, known for its extensive portfolio in natural gas processing and marketing.

DCP Midstream, LP (NYSE: DCP) has filed its Form 10-K for the fiscal year ending December 31, 2021, with the SEC. This document includes audited financial statements and is available for free on the investor section of their website. DCP Midstream is a leading midstream master limited partnership based in Denver, specializing in gathering, processing, logistics, and marketing of natural gas liquids. The partnership is a major player in the U.S. market, with ownership split between Enbridge and Phillips 66.

DCP Midstream announced its financial results for Q4 and the year ended December 31, 2021, reporting a net income attributable to partners of $315 million for the quarter and $391 million for the year. The company generated $391 million in net cash from operating activities in Q4 and $646 million for the year, with adjusted EBITDA of $330 million and $1,291 million respectively. DCP achieved excess free cash flow of $122 million in Q4 and $500 million for the year. Looking forward, DCP forecasts 2022 net income between $615-$765 million and adjusted EBITDA of $1,350-$1,500 million.