CNH Partners LLC Buys Shares of 20,646 DCP Midstream Partners, LP (DCP)

CNH Partners LLC bought a new position in DCP Midstream Partners, LP (NYSE:DCP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,646 shares of the pipeline company’s stock, valued at approximately $698,000.

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp acquired a new position in DCP Midstream Partners, in the 2nd quarter worth about $367,000. Janus Henderson Group PLC acquired a new position in DCP Midstream Partners, in the 2nd quarter worth about $103,810,000. Castleton Investment Management LLC acquired a new position in DCP Midstream Partners, in the 2nd quarter worth about $1,116,000. Barings LLC acquired a new position in DCP Midstream Partners, in the 2nd quarter worth about $2,502,000. Finally, Prudential PLC acquired a new position in DCP Midstream Partners, in the 2nd quarter worth about $3,045,000. 55.13% of the stock is currently owned by institutional investors.

DCP Midstream Partners, LP (NYSE DCP) traded up 1.68% during mid-day trading on Monday, hitting $35.76. The stock had a trading volume of 101,180 shares. The company has a market capitalization of $5.12 billion, a P/E ratio of 19.30 and a beta of 2.10. The stock’s 50-day moving average is $32.58 and its 200 day moving average is $34.55. DCP Midstream Partners, LP has a 52 week low of $29.70 and a 52 week high of $42.45.

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

TRADEMARK VIOLATION NOTICE: “CNH Partners LLC Buys Shares of 20,646 DCP Midstream Partners, LP (DCP)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another site, it was copied illegally and reposted in violation of US & international copyright law. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/09/cnh-partners-llc-buys-shares-of-20646-dcp-midstream-partners-lp-dcp.html.

Several research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $37.00 target price (down from $40.00) on shares of DCP Midstream Partners, in a research report on Tuesday, August 8th. R. F. Lafferty began coverage on DCP Midstream Partners, in a research note on Thursday. They set a “buy” rating and a $38.00 price target for the company. Barclays PLC decreased their price target on DCP Midstream Partners, from $40.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, August 17th. Credit Suisse Group decreased their price target on DCP Midstream Partners, from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, August 8th. Finally, Zacks Investment Research downgraded DCP Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $39.36.

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.

Want to see what other hedge funds are holding DCP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DCP Midstream Partners, LP (NYSE:DCP).

Institutional Ownership by Quarter for DCP Midstream Partners, (NYSE:DCP)

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.

Leave a Reply