DCP Midstream Partners, LP (DCP) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of DCP Midstream Partners, LP (NYSE:DCP) from a strong sell rating to a hold rating in a report published on Monday morning.

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. “

Several other equities analysts also recently commented on DCP. Royal Bank Of Canada decreased their price objective on shares of 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 decreased their price objective on shares of 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 decreased their price objective on shares of 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 issued a $33.00 price objective (down from $35.00) on shares of DCP Midstream Partners, in a report on Friday, September 1st. Finally, R. F. Lafferty initiated coverage on shares of DCP Midstream Partners, in a report on Thursday, October 5th. They issued a buy rating and a $38.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $38.73.

DCP Midstream Partners, (DCP) traded down $0.65 during midday trading on Monday, reaching $34.33. 135,200 shares of the company’s stock traded hands, compared to its average volume of 375,930. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.73 and a quick ratio of 0.70. DCP Midstream Partners, has a 1 year low of $29.70 and a 1 year high of $42.45. The company has a market capitalization of $4,919.83, a price-to-earnings ratio of 38.57 and a beta of 2.09.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be paid a $0.78 dividend. The ex-dividend date is Monday, November 6th. This represents a $3.12 annualized dividend and a dividend yield of 9.09%. DCP Midstream Partners,’s dividend payout ratio (DPR) is presently 439.44%.

Hedge funds have recently added to or reduced their stakes in the stock. Ffcm LLC acquired a new position in shares of DCP Midstream Partners, in the second quarter valued at about $117,000. The Manufacturers Life Insurance Company acquired a new position in shares of DCP Midstream Partners, in the second quarter valued at about $119,000. Salem Investment Counselors Inc. acquired a new position in shares of DCP Midstream Partners, in the second quarter valued at about $135,000. Solaris Asset Management LLC acquired a new position in shares of DCP Midstream Partners, in the second quarter valued at about $140,000. Finally, Penserra Capital Management LLC acquired a new stake in DCP Midstream Partners, during the second quarter worth about $162,000. Institutional investors and hedge funds own 55.92% of the company’s stock.

About DCP Midstream Partners,

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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