Credit Suisse analyst Spiro M. Dounis maintained a Hold rating on Dcp Midstream Partners (DCP) yesterday and set a price target of $12.00. The company’s shares closed last Thursday at $14.59.
According to TipRanks.com, Dounis has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.3% and a 46.8% success rate. Dounis covers the Services sector, focusing on stocks such as Enterprise Products Partners, Phillips 66 Partners, and NGL Energy Partners.
The word on The Street in general, suggests a Hold analyst consensus rating for Dcp Midstream Partners with a $11.06 average price target, representing a -22.9% downside. In a report issued on July 22, Wells Fargo also maintained a Hold rating on the stock.
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Based on Dcp Midstream Partners’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.66 billion and GAAP net loss of $550 million. In comparison, last year the company earned revenue of $2.2 billion and had a net profit of $75 million.
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DCP Midstream LP engages in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas. It operates through three segments: Gathering & Processing powerhouse, Logistics & Marketing, and Growth Projects. The Gathering & Processing powerhouse segment engages in gathering and processing of raw gas to make it marketable. The Logistics & Marketing segment consists of multiple downstream assets including fractionators, NGL pipelines, and NGL storage facilities. The Growth Projects segment includes Mewbourn 3, which is a cryogenic natural gas processing plant in the DJ Basin. The company was founded in August 2005 and is headquartered in Denver, CO.
