Credit Suisse Group Trims DCP Midstream Partners, LP (NYSE:DCP) Target Price to $40.00
DCP Midstream Partners, LP (NYSE:DCP) had its target price reduced by equities research analysts at Credit Suisse Group from $44.00 to $40.00 in a report issued on Tuesday. The brokerage currently has a “neutral” rating on the pipeline company’s stock. Credit Suisse Group’s target price suggests a potential upside of 22.51% from the company’s previous close.
Several other analysts also recently issued reports on DCP. Zacks Investment Research downgraded DCP Midstream Partners, from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 18th. US Capital Advisors raised DCP Midstream Partners, from a “hold” rating to an “overweight” rating in a research note on Wednesday, May 24th. Finally, Royal Bank Of Canada decreased their target price on DCP Midstream Partners, from $40.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.90.
Shares of DCP Midstream Partners, (NYSE DCP) traded up 0.31% during midday trading on Tuesday, hitting $32.75. The stock had a trading volume of 63,206 shares. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 19.42 and a beta of 2.10. DCP Midstream Partners, has a 12 month low of $29.70 and a 12 month high of $42.45. The stock’s 50 day moving average price is $33.47 and its 200 day moving average price is $36.72.
DCP Midstream Partners, (NYSE:DCP) last posted its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. DCP Midstream Partners, had a return on equity of 8.15% and a net margin of 10.53%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.60 billion. The firm’s revenue was up 20.1% on a year-over-year basis. On average, equities analysts forecast that DCP Midstream Partners, will post $1.15 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Solaris Asset Management LLC purchased a new stake in DCP Midstream Partners, during the second quarter worth about $140,000. Global X Management Co. LLC purchased a new stake in DCP Midstream Partners, during the second quarter worth about $19,162,000. Tortoise Capital Advisors L.L.C. purchased a new stake in DCP Midstream Partners, during the second quarter worth about $126,078,000. Sei Investments Co. purchased a new stake in DCP Midstream Partners, during the second quarter worth about $179,000. Finally, Center Coast Capital Advisors LP purchased a new stake in DCP Midstream Partners, during the second quarter worth about $113,213,000. 56.43% of the stock is currently owned by institutional investors and hedge funds.
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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