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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 announced its participation in the 2021 Citi One-on-One Midstream & Energy Infrastructure Conference on August 18, 2021. Chairman and CEO Wouter van Kempen, along with CFO Sean O’Brien, will engage in virtual meetings with investment community representatives. Conference materials will be available on their website on August 17, 2021. DCP is a leading natural gas liquids producer and one of the largest natural gas processors in the U.S., with a diverse portfolio of assets.
DCP Midstream reported financial results for Q2 and H1 2021, revealing a net loss of $31 million for Q2 but a net income of $22 million for H1. The company achieved net cash from operations of $72 million and $68 million respectively, along with adjusted EBITDA of $333 million and $608 million. Distributable cash flow rose to $225 million for Q2, marking a 29% increase from Q1. Notably, excess free cash flow surged by 48% from Q1, reaching $132 million, driven by improved wellhead volumes and logistics throughput. The company is optimistic about achieving its high-end financial targets.
DCP Midstream, LP (NYSE: DCP) announced a second quarter 2021 common unit distribution of $0.39 per unit, equating to $1.56 annualized, payable on August 13, 2021. The record date for this distribution is July 30, 2021. Additionally, a Series B preferred unit distribution of $0.4922 will be paid on September 15, 2021, with a record date of September 1, 2021. A Series C preferred unit distribution of $0.4969 is scheduled for October 15, 2021, with a record date of October 1, 2021.
DCP Midstream, LP (NYSE: DCP) is set to host a conference call on August 5, 2021, at 10:00 a.m. ET to discuss its second quarter 2021 earnings, with results released after market close on August 4. Investors can access the call via a live audio webcast on the DCP website or by phone. A replay will be available until August 12, 2021. DCP is recognized as a leading midstream master limited partnership involved in natural gas liquid production and marketing, and natural gas processing.
DCP Midstream, LP (NYSE: DCP) announced a series of virtual meetings at the J.P. Morgan 2021 Energy, Power & Renewables Conference on June 22, 2021. Sean O’Brien, CFO, and Bill Johnson, CTO, will represent the company in discussions with the investment community. Relevant materials for the conference can be found on the DCP Midstream website. DCP is a leading natural gas liquids producer and processor in the U.S., structured as a Fortune 500 midstream master limited partnership, and headquartered in Denver, Colorado.
DCP Midstream, LP (NYSE: DCP) announced that Sean O’Brien, CFO, will engage with investors at the Bank of America 2021 Energy Credit Conference on June 9, 2021. These meetings will occur virtually and cater to small groups and one-on-one discussions. DCP is set to release the conference materials on June 8, 2021, available on their investor website. As one of the largest natural gas liquids producers and a significant natural gas processor in the U.S., DCP Midstream maintains a diversified portfolio of assets.
DCP Midstream reported a net income of $53 million for the first quarter of 2021, a significant recovery from a net loss of $550 million in the same quarter of 2020. The company's adjusted EBITDA was $275 million, and distributable cash flow reached $175 million. Despite a $60 million adverse impact from Winter Storm Uri, DCP achieved an 89 million excess free cash flow, a 5% sequential increase. DCP maintained its 2021 financial guidance and announced distributions of $0.39 per limited partner unit, unchanged from the previous quarter.
DCP Midstream, LP (NYSE: DCP) will participate in the 2021 EIC Investor Conference on May 20, 2021. CEO Wouter van Kempen and CFO Sean O’Brien will host virtual meetings with investors. Attendees can access presentation materials on DCP's website on May 19, 2021. DCP Midstream is a Fortune 500 company based in Denver, specializing in natural gas liquids and processing, making it one of the largest in the U.S.
DCP Midstream, LP (NYSE: DCP) declared a quarterly common unit distribution of $0.39 per unit, totaling $1.56 annually. This will be paid on May 14, 2021, to unitholders of record by April 30, 2021. Additionally, a semi-annual Series A preferred unit distribution of $36.875 and a quarterly Series B preferred unit distribution of $0.4922 will be paid on June 15, 2021. A quarterly Series C preferred unit distribution of $0.4969 will be distributed on July 15, 2021. The distributions to foreign investors are subject to federal income tax withholding.
DCP Midstream, LP (NYSE: DCP) will conduct a conference call on May 6, 2021, at 10:00 a.m. ET to review its Q1 2021 earnings. The earnings report will be published post-market on May 5, 2021. Investors can access the live audio webcast and presentation slides on the DCP website. Participants can join the call at (844) 233-0113 in the U.S. or (574) 990-1008 internationally using the confirmation ID 9896188. A replay will be available until May 13, 2021. DCP is a leading natural gas liquids producer and one of the largest gas processors in the U.S.
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