DCP Midstream Partners, LP (NYSE:DCP) declared a quarterly dividend on Friday, October 20th, Wall Street Journal reports. Shareholders of record on Tuesday, November 7th will be given a dividend of 0.78 per share by the pipeline company on Tuesday, November 14th. This represents a $3.12 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date is Monday, November 6th.
DCP Midstream Partners, has a payout ratio of 288.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect DCP Midstream Partners, to earn $0.93 per share next year, which means the company may not be able to cover its $3.12 annual dividend with an expected future payout ratio of 335.5%.
DCP Midstream Partners, (NYSE:DCP) opened at $33.82 on Friday. The stock has a market capitalization of $4,846.47, a PE ratio of 22.85 and a beta of 2.09. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.74. DCP Midstream Partners, has a 1-year low of $29.70 and a 1-year 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, topping the Zacks’ consensus estimate of $0.14 by $0.04. DCP Midstream Partners, had a return on equity of 6.71% and a net margin of 7.93%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.60 billion. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. equities analysts forecast that DCP Midstream Partners, will post 1.08 earnings per share for the current year.
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An institutional investor recently bought a new position in DCP Midstream Partners, stock. The Manufacturers Life Insurance Company bought a new stake in DCP Midstream Partners, LP (NYSE:DCP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,530 shares of the pipeline company’s stock, valued at approximately $119,000. 55.21% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on DCP shares. Zacks Investment Research upgraded shares of DCP Midstream Partners, from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reduced their price objective on shares of DCP Midstream Partners, from $40.00 to $37.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and set a $33.00 price objective (down from $35.00) on shares of DCP Midstream Partners, in a research note on Friday, September 1st. Credit Suisse Group reduced their price objective on shares of 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, Barclays PLC reduced their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. DCP Midstream Partners, 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.
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