DCP Midstream Partners, LP (DPM) Shares Up 2.5%
Shares of DCP Midstream Partners, LP (NYSE:DPM) shot up 2.5% on Wednesday . The company traded as high as $33.84 and last traded at $33.52, with a volume of 52,182 shares traded. The stock had previously closed at $32.70.
A number of brokerages have weighed in on DPM. Zacks Investment Research upgraded DCP Midstream Partners, from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Wednesday, July 6th. Jefferies Group downgraded DCP Midstream Partners, from a “buy” rating to a “hold” rating and increased their price target for the stock from $32.00 to $35.00 in a report on Wednesday, June 8th. Wunderlich increased their price target on DCP Midstream Partners, from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, August 31st. FBR & Co initiated coverage on DCP Midstream Partners, in a research note on Friday, September 9th. They issued a “market perform” rating and a $33.00 target price for the company. Finally, Bank of America Corp. raised their target price on DCP Midstream Partners, from $25.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $32.50.
The stock has a market cap of $3.89 billion, a PE ratio of 25.25 and a beta of 1.56. The company has a 50-day moving average of $33.88 and a 200-day moving average of $32.41.
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DCP Midstream Partners, (NYSE:DPM) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.40 by $0.28. The firm had revenue of $348 million for the quarter, compared to analysts’ expectations of $385.48 million. The company’s revenue was down 19.1% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. Equities analysts forecast that DCP Midstream Partners, LP will post $1.36 earnings per share for the current year.
Several institutional investors have recently modified their holdings of DPM. Williams Jones & Associates LLC increased its position in shares of DCP Midstream Partners, by 3.2% in the second quarter. Williams Jones & Associates LLC now owns 96,355 shares of the company’s stock valued at $3,323,000 after buying an additional 2,975 shares during the period. Harvest Fund Advisors LLC increased its position in DCP Midstream Partners, by 2.7% in the second quarter. Harvest Fund Advisors LLC now owns 3,113,496 shares of the company’s stock worth $107,384,000 after buying an additional 83,303 shares during the last quarter. Cohen & Steers Inc. increased its position in DCP Midstream Partners, by 17.1% in the second quarter. Cohen & Steers Inc. now owns 384,512 shares of the company’s stock worth $16,765,000 after buying an additional 56,061 shares during the last quarter. Stifel Financial Corp increased its position in DCP Midstream Partners, by 10.8% in the second quarter. Stifel Financial Corp now owns 409,841 shares of the company’s stock worth $14,135,000 after buying an additional 39,852 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in DCP Midstream Partners, during the second quarter worth about $1,232,000.
About DCP Midstream Partners,
DCP Midstream Partners, LP is a limited partnership. The Company operates through three segments: Natural Gas Services, NGL Logistics and Wholesale Propane Logistics. Its Natural Gas Services segment consists of a geographically diverse complement of assets and ownership interests that provide a range of wellhead to market services for its producer customer, which include gathering, compressing, treating, processing, transporting and storing natural gas, and fractionating NGLs.
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