DCP - DCP up to buy at Mizuho

DCP Midstream (NYSE:DCP) the gas-focused midstream business majority owned by Phillips 66 (NYSE:PSX) and Enbridge (NYSE:ENB), is upgraded to buy at Mizuho following its 25% pullback over the past two months. The analyst feels that natural gas liquids ("NGL") risks are overblown and the shares represent good value with a 6% dividend yield and exposure to select, growing basins in 2022. The sector has been on a tear in 2021, with DCP shares up 34% so far this year; it will be interesting to see if this ratings boost, along with other recent midstream upgrades, lives up to the hype in 2022.

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DCP up to buy at Mizuho