DCP Midstream Partners, LP Announces Quarterly Dividend of $0.78 (NYSE:DCP)
DCP Midstream Partners, LP (NYSE:DCP) announced a quarterly dividend on Tuesday, July 25th, Wall Street Journal reports. Stockholders of record on Tuesday, August 8th will be given a dividend of 0.78 per share by the pipeline company on Monday, August 14th. This represents a $3.12 annualized dividend and a dividend yield of 9.02%. The ex-dividend date is Friday, August 4th.
DCP Midstream Partners, has a dividend payout ratio of 288.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect DCP Midstream Partners, to earn $1.48 per share next year, which means the company may not be able to cover its $3.12 annual dividend with an expected future payout ratio of 210.8%.
DCP Midstream Partners, (NYSE DCP) traded up 0.09% during mid-day trading on Tuesday, hitting $34.60. 330,907 shares of the stock traded hands. The stock has a 50-day moving average of $33.36 and a 200 day moving average of $36.85. DCP Midstream Partners, has a 1-year low of $29.70 and a 1-year high of $42.45. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 20.52 and a beta of 2.10.
DCP Midstream Partners, (NYSE:DCP) last announced its earnings results on Wednesday, May 10th. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $613.40 million. DCP Midstream Partners, had a net margin of 10.53% and a return on equity of 8.15%. DCP Midstream Partners,’s revenue was up 44.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, equities analysts expect that DCP Midstream Partners, will post $1.18 EPS for the current year.
DCP has been the subject of a number of recent analyst reports. US Capital Advisors upgraded shares of DCP Midstream Partners, from a “hold” rating to an “overweight” rating in a research report on Wednesday, May 24th. Zacks Investment Research lowered shares of DCP Midstream Partners, from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. DCP Midstream Partners, presently has an average rating of “Hold” and a consensus price target of $40.40.
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DCP Midstream Partners, Company Profile
DCP Midstream, LP, formerly DCP Midstream Partners, LP, is a producer and marketer of natural gas liquids (NGLs) in the United States. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering, and selling condensate, and transporting, storing and selling propane in wholesale markets.
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