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DCP Midstream (symbol: DCP) is a prominent energy company that plays a crucial role in connecting abundant natural gas resources to expanding markets. Recognized as the largest producer of natural gas liquids (NGLs) and a leading natural gas processing company in the United States, DCP Midstream processes around 12% of the nation's gas supply.
DCP Midstream offers a wide range of fully integrated midstream services that include natural gas gathering, compression, treating, processing, transportation, and storage. The company's expansive midstream infrastructure includes natural gas processing plants, compressor stations, and an extensive network of pipelines.
Despite its size, with approximately 3,200 employees, DCP Midstream maintains a close-knit, small company feel. The company is committed to the professional development of its employees, offering long-term career growth opportunities, competitive compensation, and comprehensive benefits. These benefits include 401(k) matching, wellness-focused medical plans, tuition reimbursement, and employee-matching charitable gift programs.
Recently, DCP Midstream has been actively expanding its operations and infrastructure to meet the growing demands of the energy market. The company has also engaged in strategic partnerships and projects that enhance its capabilities and market reach.
Latest News: DCP Midstream continues to drive innovation and efficiency in the energy sector, with recent updates sourced from Phillips 66.
DCP Midstream, LP (NYSE: DCP) announced a fourth quarter 2021 Common Unit cash distribution of $0.39 per unit, equating to an annualized $1.56 per unit. This distribution is scheduled for payment on February 14, 2022, to unitholders on record as of February 4, 2022.
Additionally, a quarterly distribution of $0.4922 per unit for Series B Preferred Units will be paid on March 15, 2022, and $0.4969 for Series C Preferred Units on April 15, 2022. Foreign investors' distributions are subject to federal income tax withholding.
DCP Midstream, LP (NYSE: DCP) will report its fourth quarter 2021 earnings on February 9, 2022, after market closure. A conference call to discuss the earnings and 2022 guidance is scheduled for February 10, 2022, at 10:00 a.m. ET. Interested parties can access the live webcast through DCP's Investors section at www.dcpmidstream.com. A replay will be available until February 17, 2022. DCP Midstream, headquartered in Denver, is a major player in the natural gas liquids market and natural gas processing in the U.S.
DCP Midstream, LP (NYSE: DCP) will participate in the UBS Winter Infrastructure & Energy Virtual Conference on January 11, 2022. Wouter van Kempen, CEO, and Sean O’Brien, CFO, will hold virtual meetings with investors. Conference materials will be available on the DCP Midstream website on January 10, 2022. DCP Midstream is a leading midstream master limited partnership based in Denver, Colorado, known for its extensive natural gas liquids production, processing, and logistics assets, backed by a joint venture between Enbridge and Phillips 66.
DCP Midstream announced participation in the 2021 Wells Fargo Virtual Midstream, Utility & Renewables Symposium on December 8, 2021. Wouter van Kempen, CEO, and Sean O’Brien, CFO, will engage in a fireside chat and meet with investors. Conference materials will be available on the DCP Midstream website on December 7, 2021. DCP Midstream is a major player in the U.S. natural gas liquids and processing sectors, supported by a joint venture between Enbridge and Phillips 66.
DCP Midstream, LP (NYSE: DCP) announced a $400 million offering of 3.25% senior notes due 2032, priced at 100% of face value. Closing is expected on November 19, 2021, pending customary conditions. Proceeds will repay debt under the revolving credit facility and for general partnership purposes. The offering is managed by major financial institutions, and the senior notes are guaranteed by the Partnership. Investors are advised to review the prospectus for further details.
DCP Midstream, LP (NYSE: DCP) has announced a public offering of $400 million in senior notes due 2032, guaranteed by the Partnership. The proceeds will be used to repay debts under its revolving credit facility and for general partnership purposes. The offering is managed by notable financial institutions, including J.P. Morgan and Barclays. This senior notes offering is part of an effective shelf registration with the SEC. Investors should consider risks highlighted in the prospectus related to market conditions and forward-looking statements.
DCP Midstream reported strong financial results for Q3 and the first nine months of 2021. Key highlights include a net income attributable to partners of $54 million for Q3 and $76 million year-to-date, alongside significant cash flow metrics: net cash provided by operating activities totaled $187 million for Q3 and $255 million year-to-date. Adjusted EBITDA reached a record $353 million for Q3, marking a 6% increase from the previous quarter. DCP generated $157 million in excess free cash flow in Q3, marking a 19% increase from Q2. The company also improved its leverage ratio to 4.1 times, supported by a positive outlook from Fitch.
DCP Midstream, LP (NYSE: DCP) announced its third quarter 2021 common and preferred unit distributions. The board declared a cash distribution of $0.39 per common unit, equating to an annualized $1.56 per unit, payable on November 12, 2021, to unitholders of record by October 29, 2021. Additionally, preferred unit distributions include $36.875 for Series A, $0.4922 for Series B, and $0.4969 for Series C, all payable in mid-December 2021 and January 2022. The company plans to report third quarter earnings on November 2, 2021, with a conference call scheduled for November 3, 2021.
DCP Midstream, LP (NYSE: DCP) will participate in the Barclays CEO Energy-Power Conference on September 9, 2021. Wouter van Kempen, CEO, and Sean O’Brien, CFO, will engage in a fireside chat and hold meetings with investors. Relevant materials will be available on DCP's investor website on September 8, 2021. DCP Midstream is a leading midstream master limited partnership based in Denver, specializing in natural gas liquids and processing.
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