Barclays PLC Cuts DCP Midstream Partners, LP (DCP) Price Target to $37.00
DCP Midstream Partners, LP (NYSE:DCP) had its price target dropped by Barclays PLC from $40.00 to $37.00 in a research note issued to investors on Thursday. The firm currently has an “equal weight” rating on the pipeline company’s stock. Barclays PLC’s price objective would indicate a potential upside of 21.47% from the stock’s previous close.
Several other research analysts have also commented on DCP. Zacks Investment Research raised DCP Midstream Partners, from a “strong sell” rating to a “hold” rating in a report on Thursday, August 10th. Credit Suisse Group dropped their target price on DCP Midstream Partners, from $44.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, August 8th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $37.00 target price (down previously from $40.00) on shares of DCP Midstream Partners, in a report on Tuesday, August 8th. Finally, US Capital Advisors raised DCP Midstream Partners, from a “hold” rating to an “overweight” rating in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $39.64.
Shares of DCP Midstream Partners, (NYSE DCP) traded up 0.76% during midday trading on Thursday, hitting $30.69. 62,022 shares of the stock were exchanged. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 16.56 and a beta of 2.10. The firm’s 50 day moving average is $33.67 and its 200-day moving average is $36.27. DCP Midstream Partners, has a 1-year low of $29.70 and a 1-year high of $42.45.
DCP Midstream Partners, (NYSE:DCP) last posted its earnings results on Monday, August 7th. The pipeline company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. The firm 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 6.71% and a net margin of 7.93%. The business’s revenue was up 20.1% on a year-over-year basis. On average, analysts predict that DCP Midstream Partners, will post $1.20 EPS for the current year.
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Several hedge funds have recently modified their holdings of DCP. ING Groep NV acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $3,379,000. Eagle Global Advisors LLC acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $106,820,000. Municipal Employees Retirement System of Michigan acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $3,147,000. Lee Financial Co acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $290,000. Finally, Tortoise Capital Advisors L.L.C. acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $126,078,000. Institutional investors and hedge funds own 55.72% 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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