DCP Midstream Partners, (DPM) Releases Quarterly Earnings Results
DCP Midstream Partners, (NYSE:DPM) posted its quarterly earnings results on Tuesday. The company reported $0.29 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.43 by $0.14, American Banking & Market News reports. The company had revenue of $812.00 million for the quarter, compared to the consensus estimate of $908.50 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. DCP Midstream Partners,’s revenue was up 2.5% compared to the same quarter last year.
A number of research firms have recently commented on DPM. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of DCP Midstream Partners, in a research note on Monday, June 23rd. They now have a $59.00 price target on the stock, up previously from $54.00. On the ratings front, analysts at Jefferies Group raised their price target on shares of DCP Midstream Partners, from $60.00 to $61.00 in a research note on Thursday, June 5th. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of DCP Midstream Partners, from $56.00 to $58.00 in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.72.
DCP Midstream Partners, (NYSE:DPM) traded down 2.22% on Tuesday, hitting $53.82. 311,280 shares of the company’s stock traded hands. DCP Midstream Partners, has a 52 week low of $45.02 and a 52 week high of $57.98. The stock’s 50-day moving average is $56.22 and its 200-day moving average is $52.70. The company has a market cap of $5.808 billion and a P/E ratio of 38.87.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Friday, August 8th will be given a dividend of $0.7575 per share. This represents a $3.03 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend is Wednesday, August 6th. This is a boost from DCP Midstream Partners,’s previous quarterly dividend of $0.75.
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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