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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/09/dcp-midstream-partners-lp-dpm-bond-prices-fall-1-2.html
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.
Receive News & Ratings for DCP Midstream Partners LP Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for DCP Midstream Partners LP and related companies with MarketBeat.com’s FREE daily email newsletter.