Published On: Fri, Sep 9th, 2016

DCP Midstream Partners, LP (DPM) Bond Prices Fall 1.2%

An issue of DCP Midstream Partners, LP (NYSE:DPM) debt fell 1.2% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 2.7% coupon and is set to mature on April 1, 2019. The bonds in the issue are now trading at $97.25. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.
DPM has been the subject of a number of recent analyst reports. US Capital Advisors cut DCP Midstream Partners, from an “overweight” rating to a “hold” rating in a research note on Wednesday, May 18th. Wunderlich upped their price target on DCP Midstream Partners, from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. Jefferies Group cut DCP Midstream Partners, from a “buy” rating to a “hold” rating and upped their price target for the company from $32.00 to $35.00 in a research note on Wednesday, June 8th. Zacks Investment Research raised DCP Midstream Partners, from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, July 6th. Finally, Ladenburg Thalmann cut DCP Midstream Partners, from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. DCP Midstream Partners, presently has an average rating of “Hold” and an average price target of $32.45.
DCP Midstream Partners, LP (NYSE:DPM) opened at 36.15 on Friday. The firm has a market cap of $4.15 billion, a P/E ratio of 26.92 and a beta of 1.56. The firm’s 50-day moving average price is $33.85 and its 200-day moving average price is $31.43. DCP Midstream Partners, LP has a 52-week low of $15.09 and a 52-week high of $38.15.

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DCP Midstream Partners, (NYSE:DPM) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.28. During the same period last year, the business earned $0.62 EPS. The firm earned $348 million during the quarter, compared to the consensus estimate of $385.48 million. DCP Midstream Partners,’s revenue was down 19.1% compared to the same quarter last year. Equities research analysts expect that DCP Midstream Partners, LP will post $1.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, August 5th were given a dividend of $0.78 per share. The ex-dividend date was Wednesday, August 3rd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.63%.
About DCP Midstream Partners,
DCP Midstream Partners, LP is a limited partnership. The Company operates through three segments: Natural Gas Services, NGL Logistics and Wholesale Propane Logistics. Its Natural Gas Services segment consists of a geographically diverse complement of assets and ownership interests that provide a range of wellhead to market services for its producer customer, which include gathering, compressing, treating, processing, transporting and storing natural gas, and fractionating NGLs.

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