Stifel Nicolaus Reiterates “Buy” Rating for DCP Midstream Partners, (DPM)
DCP Midstream Partners, (NYSE:DPM)‘s stock had its “buy” rating restated by Stifel Nicolaus in a research note issued on Thursday, Analyst RN reports. They currently have a $60.00 price objective on the stock, up from their previous price objective of $55.00. Stifel Nicolaus’ price target would indicate a potential upside of 8.32% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wunderlich raised their price target on shares of DCP Midstream Partners, from $53.00 to $57.00 in a research note on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of DCP Midstream Partners, from $59.00 to $60.00 in a research note on Thursday, April 17th. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of DCP Midstream Partners, from $55.00 to $57.50 in a research note on Friday, March 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $57.17.
Shares of DCP Midstream Partners, (NYSE:DPM) traded down 1.77% during mid-day trading on Thursday, hitting $54.41. 353,290 shares of the company’s stock traded hands. DCP Midstream Partners, has a one year low of $45.02 and a one year high of $58.50. The stock’s 50-day moving average is $51.63 and its 200-day moving average is $49.47. The company has a market cap of $5.082 billion and a P/E ratio of 39.28.
DCP Midstream Partners, (NYSE:DPM) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $978.54 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, analysts predict that DCP Midstream Partners, will post $2.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Tuesday, May 6th. This is a boost from DCP Midstream Partners,’s previous quarterly dividend of $0.73.
DCP Midstream Partners, LP is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; transporting, storing and selling propane in wholesale markets, and producing, fractionating, transporting, storing and selling natural gas liquids (NYSE:DPM) and condensate.
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