DCP Midstream Partners, LP (NYSE:DCP) Stock Rating Reaffirmed by Royal Bank Of Canada
DCP Midstream Partners, LP (NYSE:DCP)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank Of Canada in a note issued to investors on Tuesday. They currently have a $37.00 price target on the pipeline company’s stock, down from their prior price target of $40.00. Royal Bank Of Canada’s price target indicates a potential upside of 16.21% from the stock’s current price.
Several other brokerages have also recently commented on DCP. Zacks Investment Research cut DCP Midstream Partners, from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 18th. US Capital Advisors raised DCP Midstream Partners, from a “hold” rating to an “overweight” rating in a research report on Wednesday, May 24th. Finally, Credit Suisse Group decreased their target price on DCP Midstream Partners, from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.90.
DCP Midstream Partners, (DCP) traded down 2.48% during trading on Tuesday, reaching $31.84. The company had a trading volume of 462,454 shares. DCP Midstream Partners, has a 52-week low of $29.70 and a 52-week high of $42.45. The stock has a market cap of $4.56 billion, a PE ratio of 18.88 and a beta of 2.10. The company has a 50-day moving average price of $33.64 and a 200 day moving average price of $36.67.
DCP Midstream Partners, (NYSE:DCP) last issued its earnings results on Monday, August 7th. The pipeline company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.60 billion. DCP Midstream Partners, had a return on equity of 8.15% and a net margin of 10.53%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts anticipate that DCP Midstream Partners, will post $1.15 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in DCP. Kayne Anderson Capital Advisors LP purchased a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $239,264,000. Alps Advisors Inc. purchased a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $223,169,000. Tortoise Capital Advisors L.L.C. purchased a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $126,078,000. Center Coast Capital Advisors LP purchased a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $113,213,000. Finally, First Eagle Investment Management LLC purchased a new stake in shares of DCP Midstream Partners, during the second quarter valued at about $107,928,000. Institutional investors and hedge funds own 56.43% of the company’s stock.
About DCP Midstream Partners,
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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