DCP Midstream, LP
DCP-PC
New York Stock Exchange25.00
USD
+0.01
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DCP Midstream, LP
DCP-PC
(New York Stock Exchange)
Recent
price
25.00
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- DCP Midstream, LP (NYSE: DCP-PC) owns, operates, acquires and develops a diversified portfolio of midstream energy assets focused on natural gas gathering, processing, transportation, logistics and marketing in the United States. The company operates through two primary segments: Gathering and Processing, which gathers, compresses, treats and processes natural gas into residue gas and natural gas liquids (NGLs) including ethane, propane, normal butane, iso-butane and natural gasoline while recovering condensate, with approximately 36 natural gas processing plants and related infrastructure; and Logistics and Marketing, which transports, trades, markets, stores and fractionates NGLs while providing plant tailgate purchases, flexible pricing options and price risk management services to third-party producers and customers such as petrochemical companies, refiners and retail propane distributors. DCP Midstream conducts operations across key regions including the Permian Basin, Eagle Ford Shale, Denver-Julesburg Basin, Midcontinent, East Texas, Gulf Coast and South Texas, supported by strategic NGL pipelines connected to major market hubs; it serves producer counterparties with integrated wellhead-to-market solutions leveraging its pipeline network and commodity hedging programs for stable cash flows. Founded in 2005 as a Delaware limited partnership by DCP Midstream, LLC and headquartered at 370 17th Street in Denver, Colorado, the company previously operated as DCP Midstream Partners, LP prior to a 2017 name change and maintains joint venture ownership with Phillips 66 holding an 86.8% economic interest following its June 2023 $3.8 billion all-cash acquisition of all publicly held common units at $41.75 each alongside Enbridge's 13.2% stake in the general partner. Recent developments include full integration into Phillips 66's Midstream segment enhancing NGL transportation, fractionation and natural gas processing capabilities with projected synergies exceeding $300 million and incremental adjusted EBITDA of $1 billion, alongside strengthened leak detection and repair practices at eight processing plants in Colorado, New Mexico, Texas and Oklahoma under a U.S. EPA Clean Air Act settlement, operational expansions in NGL export activities such as butane loadings from Chesapeake, Virginia, and credit rating upgrades to BBB- by Fitch reflecting its scale and diversified asset base.