Dcp Midstream Partners Lp Receives a New Rating from Top Analyst

By Carrie Williams

RBC Capital analyst Elvira Scotto reiterated a Hold rating on Dcp Midstream Partners Lp (NYSE: DCP) yesterday and set a price target of $42. The company’s shares closed yesterday at $37.35.

According to TipRanks.com, Scotto is a top 25 analyst with an average return of 24.6% and a 75.3% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Sanchez Production Partners, and Enbridge Energy Management.

Dcp Midstream Partners Lp has an analyst consensus of Hold, with a price target consensus of $40.67.

Based on Dcp Midstream Partners Lp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $413 million and quarterly net profit of $44 million. In comparison, last year the company earned revenue of $435 million and had a net profit of $59 million.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Thomas Morris, a Director at DCP bought 5,000 shares for a total of $198,698.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and condensate; and transporting, storing and selling propane in wholesale markets. It operates through the following segments: Natural Gas Services, NGL Logistics, and Wholesale Propane Logistics. The Natural Gas Services segment provides services that include gathering, compressing, treating, processing, transporting and storing natural gas, and fractionating NGLs. The NGL Logistics segment transport NGLs from natural gas processing plants to fractionation facilities, a petrochemical plant and a third party underground NGL storage facility. The Wholesale Propane Logistics segment covers the receipt of propane from processing plants, fractionation facilities and crude oil refineries, the transportation of that propane by pipeline, rail or ship to terminals and storage facilities, the storage of propane and the delivery of propane to distributors. The company was founded in August 2005 and is headquartered in Denver, CO.