DCP Midstream Partners, LP (NYSE:DPM) dropped 3.1% during mid-day trading on Thursday . The stock traded as low as $34.08 and last traded at $34.25, with a volume of 470,761 shares changing hands. The stock had previously closed at $35.35.

DPM has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of DCP Midstream Partners, from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, May 2nd. Citigroup Inc. raised their target price on shares of DCP Midstream Partners, from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 19th. Bank of America Corp. raised their target price on shares of DCP Midstream Partners, from $25.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 21st. Jefferies Group downgraded shares of DCP Midstream Partners, from a “buy” rating to a “hold” rating and raised their target price for the company from $32.00 to $35.00 in a research note on Wednesday, June 8th. Finally, US Capital Advisors downgraded shares of DCP Midstream Partners, from an “overweight” rating to a “hold” rating in a research note on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating, eight 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 price target of $32.55.

The firm has a market cap of $3.96 billion and a P/E ratio of 36.99. The company has a 50-day moving average of $34.99 and a 200 day moving average of $27.80.

DCP Midstream Partners, (NYSE:DPM) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $379 million for the quarter, compared to analysts’ expectations of $575.65 million. The firm’s revenue for the quarter was down 33.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. Equities analysts predict that DCP Midstream Partners, LP will post $1.78 EPS for the current fiscal year.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in DPM. Penserra Capital Management LLC purchased a new position in DCP Midstream Partners, during the fourth quarter valued at $1,183,000. Atlantic Trust Group LLC boosted its position in DCP Midstream Partners, by 3.1% in the fourth quarter. Atlantic Trust Group LLC now owns 1,299,785 shares of the company’s stock valued at $32,066,000 after buying an additional 39,243 shares during the period. First Trust Advisors LP boosted its position in DCP Midstream Partners, by 1.9% in the fourth quarter. First Trust Advisors LP now owns 337,997 shares of the company’s stock valued at $8,338,000 after buying an additional 6,162 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in DCP Midstream Partners, by 4.3% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 12,556,316 shares of the company’s stock valued at $309,747,000 after buying an additional 515,536 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in DCP Midstream Partners, by 39.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 593,975 shares of the company’s stock valued at $14,653,000 after buying an additional 167,467 shares during the period.

DCP Midstream Partners, LP is a partnership formed by DCP Midstream, LLC to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. The Company is engaged in the business of compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and recovering and selling condensate, and transporting, storing and selling propane in wholesale markets.

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