DCP Midstream Partners, LP (DCP) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of DCP Midstream Partners, LP (NYSE:DCP) from a hold rating to a sell rating in a research report report published on Wednesday.

According to Zacks, “DCP Midstream Partners, LP is a midstream master limited partnership that gathers, treats, compresses, processes, transports and markets natural gas and transports and markets natural gas liquids. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by Duke Energy Field Services, a joint venture between Duke Energy and ConocoPhillips. It is a midstream master limited partnership formed by Duke Energy Field Services to own, operate, acquire and develop a diversified portfolio of complementary midstream assets. Supported by its relationship with Duke Energy Field Services and its parents, Duke Energy and ConocoPhillips, it intend to acquire and construct additional assets and have a management team dedicated to executing our growth strategies. “

A number of other analysts have also commented on DCP. Royal Bank Of Canada dropped their price target on DCP Midstream Partners, from $40.00 to $37.00 and set a sector perform rating on the stock in a report on Wednesday, August 2nd. Credit Suisse Group dropped their price target 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. Barclays PLC dropped their price target on DCP Midstream Partners, from $40.00 to $37.00 and set an equal weight rating on the stock in a report on Thursday, August 17th. Jefferies Group LLC reiterated a hold rating and set a $33.00 price target (down from $35.00) on shares of DCP Midstream Partners, in a report on Friday, September 1st. Finally, R. F. Lafferty initiated coverage on DCP Midstream Partners, in a report on Thursday, October 5th. They set a buy rating and a $38.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $39.36.

DCP Midstream Partners, (DCP) traded up 1.04% on Wednesday, hitting $33.92. The company had a trading volume of 194,393 shares. DCP Midstream Partners, has a one year low of $29.70 and a one year high of $42.45. The stock has a 50 day moving average of $33.66 and a 200-day moving average of $34.37. The stock has a market capitalization of $4.86 billion, a PE ratio of 18.31 and a beta of 2.10.

DCP Midstream Partners, (NYSE:DCP) last issued its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.60 billion. DCP Midstream Partners, had a return on equity of 6.71% and a net margin of 7.93%. DCP Midstream Partners,’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities analysts anticipate that DCP Midstream Partners, will post $1.29 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in DCP. Advisory Research Inc. purchased a new stake in DCP Midstream Partners, in the second quarter worth $347,051,000. Goldman Sachs Group Inc. purchased a new stake in DCP Midstream Partners, in the second quarter worth $246,698,000. Kayne Anderson Capital Advisors LP purchased a new stake in DCP Midstream Partners, in the second quarter worth $239,264,000. Alps Advisors Inc. purchased a new stake in DCP Midstream Partners, in the second quarter worth $223,169,000. Finally, Tortoise Capital Advisors L.L.C. purchased a new stake in DCP Midstream Partners, in the second quarter worth $126,078,000. 55.13% of the stock is 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.

Analyst Recommendations for DCP Midstream Partners, (NYSE:DCP)

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