DCP - DCP Midstream: Revisiting After The Distribution Cut - Market May Have Overcorrected
DCP Midstream (DCP) has perhaps been more impacted by the collapse in energy prices than most of the other pipeline partnerships that we actively discuss here. While natural gas-focused pipeline companies like MPLX (MPLX) have seen their unit prices begin to recover over the past week or so, DCP Midstream has been forced to scale back its growth ambitions and slash its distributions as its unit price stagnates. This is certainly disappointing as the company previously was on a very exciting growth trajectory driven partially by the anticipated growth of production in the Permian. The