DCP Midstream Partners, LP (DPM) Trading Up 4.3%
DCP Midstream Partners, LP (NYSE:DPM) shares rose 4.3% on Monday . The stock traded as high as $35.49 and last traded at $35.21, with a volume of 199,064 shares. The stock had previously closed at $33.76.
DPM has been the topic of several analyst reports. Zacks Investment Research raised shares of DCP Midstream Partners, from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, May 2nd. Citigroup Inc. lifted their price target on shares of DCP Midstream Partners, from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 19th. Bank of America Corp. lifted their price target on shares of DCP Midstream Partners, from $25.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, June 21st. Jefferies Group lowered shares of DCP Midstream Partners, from a “buy” rating to a “hold” rating and lifted their price target for the company from $32.00 to $35.00 in a research report on Wednesday, June 8th. Finally, US Capital Advisors lowered shares of DCP Midstream Partners, from an “overweight” rating to a “hold” rating in a research report on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $32.10.
The company has a 50-day moving average price of $34.36 and a 200 day moving average price of $29.16. The stock has a market capitalization of $3.89 billion and a PE ratio of 25.2196.
DCP Midstream Partners, (NYSE:DPM) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.40 by $0.28. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The business earned $348 million during the quarter, compared to analysts’ expectations of $385.48 million. The firm’s quarterly revenue was down 19.1% on a year-over-year basis. Analysts expect that DCP Midstream Partners, LP will post $1.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, August 5th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $3.12 annualized dividend and a dividend yield of 9.13%.
An institutional investor recently raised its position in DCP Midstream Partners, stock. California Public Employees Retirement System raised its stake in shares of DCP Midstream Partners, LP (NYSE:DPM) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 152,700 shares of the company’s stock after buying an additional 7,800 shares during the period. California Public Employees Retirement System owned 0.13% of DCP Midstream Partners, worth $3,767,000 at the end of the most recent quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.