DCP Midstream Partners LP (DPM) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on May 9, 2016.
On the company’s financial health, DCP Midstream Partners LP reported $0.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.67. The company had revenue of $379.00 million for the quarter, compared to analysts expectations of $605.14 million. The company’s revenue was down -33.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.71 EPS.
DCP Midstream Partners LP opened for trading at $34.76 and hit $35.98 on the upside on Friday, eventually ending the session at $35.36, with a gain of 0.37% or 0.13 points. The heightened volatility saw the trading volume jump to 5,19,740 shares. Company has a market cap of $4,057 M.
In a different news, on Mar 2, 2015, Thomas C Morris (director) purchased 5,000 shares at $39.74 per share price.
DCP Midstream Partners LP is a partnership formed by DCP Midstream LLC to own operate acquire and develop a diversified portfolio of complementary midstream energy assets. The Company is engaged in the business of compressing treating processing transporting storing and selling natural gas; producing fractionating transporting storing and selling natural gas liquids (NGLs) and recovering and selling condensate and transporting storing and selling propane in wholesale markets. It operates in three business segments: Natural Gas Services which consists of assets and ownership interests that provide market services for its producer customers; NGL Logistics which owns and operates assets for its NGL Logistics business in Colorado Kansas Louisiana Michigan Oklahoma and Texas and Wholesale Propane Logistics which owns or operates assets for its wholesale propane logistics business in Maine Massachusetts New York Pennsylvania Rhode Island Vermont and Virginia.