DCP Midstream Partners, LP (DPM) Short Interest Down 37.0% in September
DCP Midstream Partners, LP (NYSE:DPM) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,795,627 shares, a drop of 37.0% from the September 15th total of 4,439,885 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average daily trading volume, of 331,333 shares, the short-interest ratio is presently 8.4 days.
Several hedge funds have recently modified their holdings of DPM. US Bancorp DE boosted its stake in shares of DCP Midstream Partners, by 34.2% in the second quarter. US Bancorp DE now owns 2,953 shares of the company’s stock valued at $102,000 after buying an additional 753 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $208,000. Cedar Wealth Management LLC acquired a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $212,000. Bank of New York Mellon Corp acquired a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $225,000. Finally, Simmons Bank acquired a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $237,000.
DPM has been the subject of several research reports. 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. 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. Ladenburg Thalmann downgraded DCP Midstream Partners, from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research note on Thursday, July 21st. Zacks Investment Research upgraded DCP Midstream Partners, from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Tuesday, October 4th. Finally, Wunderlich lifted their price target on DCP Midstream Partners, from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.42.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/dcp-midstream-partners-lp-dpm-short-interest-down-37-0-in-september.html
Shares of DCP Midstream Partners, (NYSE:DPM) opened at 34.83 on Wednesday. The firm’s 50-day moving average is $34.39 and its 200 day moving average is $33.69. The stock has a market cap of $4.00 billion, a P/E ratio of 25.93 and a beta of 1.56. DCP Midstream Partners, has a 52-week low of $15.09 and a 52-week high of $38.15.
DCP Midstream Partners, (NYSE:DPM) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.28. The firm had revenue of $348 million for the quarter, compared to analyst estimates of $385.48 million. The business’s quarterly revenue was down 19.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. Analysts forecast that DCP Midstream Partners, will post $1.36 earnings per share for the current fiscal year.
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.
Receive News & Ratings for DCP Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DCP Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.