DCP Midstream Partners (DCP) Price Target Cut to $38.00 by Analysts at Morgan Stanley

DCP Midstream Partners (NYSE:DCP) had its price objective cut by Morgan Stanley from $39.00 to $38.00 in a report published on Friday morning. They currently have an underweight rating on the pipeline company’s stock.

DCP has been the topic of several other research reports. Credit Suisse Group began coverage on DCP Midstream Partners in a research note on Thursday, January 4th. They set a neutral rating and a $36.00 price target on the stock. Stifel Nicolaus set a $43.00 price target on DCP Midstream Partners and gave the company a buy rating in a research note on Monday, March 12th. Bank of America assumed coverage on DCP Midstream Partners in a research note on Tuesday, January 9th. They set a buy rating on the stock. Zacks Investment Research raised DCP Midstream Partners from a hold rating to a strong-buy rating and set a $42.00 price objective for the company in a report on Tuesday, January 2nd. Finally, Goldman Sachs raised DCP Midstream Partners from a sell rating to a neutral rating and set a $48.00 price objective for the company in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $39.64.

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DCP Midstream Partners (NYSE DCP) traded up $0.07 during trading on Friday, reaching $34.48. The company’s stock had a trading volume of 471,355 shares, compared to its average volume of 572,996. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.68. The stock has a market cap of $4,931.29, a P/E ratio of 80.19 and a beta of 2.17. DCP Midstream Partners has a twelve month low of $29.70 and a twelve month high of $42.79.

DCP Midstream Partners (NYSE:DCP) last posted its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.19). The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $3.27 billion. DCP Midstream Partners had a net margin of 2.71% and a return on equity of 3.59%. analysts expect that DCP Midstream Partners will post 1.32 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Icon Wealth Partners LLC acquired a new position in shares of DCP Midstream Partners in the 4th quarter valued at about $102,000. SeaCrest Wealth Management LLC acquired a new position in DCP Midstream Partners in the 4th quarter worth about $110,000. The Manufacturers Life Insurance Company acquired a new position in DCP Midstream Partners in the 2nd quarter worth about $119,000. Captrust Financial Advisors acquired a new position in DCP Midstream Partners in the 4th quarter worth about $183,000. Finally, KHP Capital LLC acquired a new position in DCP Midstream Partners in the 4th quarter worth about $203,000. 56.59% of the stock is owned by institutional investors and hedge funds.

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About DCP Midstream Partners

DCP Midstream, LP, together with its subsidiaries, owns, operates, acquires, and develops a portfolio of midstream energy assets in the United States. The company operates in two segments, Gathering and Processing, and Logistics and Marketing. The Gathering and Processing segment is involved in gathering, compressing, treating, and processing natural gas; producing and fractionating natural gas liquids (NGLs); and recovering condensate.

Analyst Recommendations for DCP Midstream Partners (NYSE:DCP)

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