Cushing Asset Management Lp buys $43,732,490 stake in DCP Midstream Partners LP (DPM)

DCP Midstream Partners LP (DPM) : Cushing Asset Management Lp scooped up 710,750 additional shares in DCP Midstream Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,280,600 shares of DCP Midstream Partners LP which is valued at $43,732,490.DCP Midstream Partners LP makes up approximately 1.64% of Cushing Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Dreman Value Management L L C added DPM to its portfolio by purchasing 116 company shares during the most recent quarter which is valued at $3,961.Van Eck Associates Corp boosted its stake in DPM in the latest quarter, The investment management firm added 842 additional shares and now holds a total of 38,742 shares of DCP Midstream Partners LP which is valued at $1,323,039. DCP Midstream Partners LP makes up approx 0.01% of Van Eck Associates Corp’s portfolio.Burnham Asset Management Corp Ny reduced its stake in DPM by selling 1,465 shares or 5.55% in the most recent quarter. The Hedge Fund company now holds 24,945 shares of DPM which is valued at $851,872. DCP Midstream Partners LP makes up approx 0.23% of Burnham Asset Management Corp Ny’s portfolio. Sheaff Brock Investment Advisors added DPM to its portfolio by purchasing 6,020 company shares during the most recent quarter which is valued at $203,235. DCP Midstream Partners LP makes up approx 0.02% of Sheaff Brock Investment Advisors’s portfolio.First Trust Advisors Lp reduced its stake in DPM by selling 223,689 shares or 48.37% in the most recent quarter. The Hedge Fund company now holds 238,722 shares of DPM which is valued at $8,059,255. DCP Midstream Partners LP makes up approx 0.02% of First Trust Advisors Lp’s portfolio.

DCP Midstream Partners LP opened for trading at $33.91 and hit $34.83 on the upside on Wednesday, eventually ending the session at $34.82, with a gain of 2.26% or 0.77 points. The heightened volatility saw the trading volume jump to 1,585,301 shares. Company has a market cap of $3,995 M.

On the company’s financial health, DCP Midstream Partners LP reported $0.12 EPS for the quarter, missing the analyst consensus estimate by $ -0.29 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.41. The company had revenue of $348.00 million for the quarter, compared to analysts expectations of $415.86 million. The company’s revenue was down -19.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.62 EPS.

Many Wall Street Analysts have commented on DCP Midstream Partners LP. Company shares were Reiterated by Wunderlich on Aug 31, 2016 to “Buy”, Firm has raised the Price Target to $ 36 from a previous price target of $35 .DCP Midstream Partners LP was Downgraded by Ladenburg Thalmann to ” Neutral” on Jul 21, 2016. DCP Midstream Partners LP was Downgraded by Jefferies to ” Hold” on Jun 8, 2016.

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.

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