Dcp Midstream Partners (DCP) Gets a Hold Rating from Wells Fargo

In a report released today, Michael Blum from Wells Fargo maintained a Hold rating on Dcp Midstream Partners (DCP). The company’s shares closed last Friday at $13.98.

According to TipRanks.com, Blum is a 4-star analyst with an average return of 7.4% and a 56.5% success rate. Blum covers the Services sector, focusing on stocks such as Phillips 66 Partners, NGL Energy Partners, and Crestwood Equity.

The word on The Street in general, suggests a Hold analyst consensus rating for Dcp Midstream Partners with a $12.56 average price target, representing a -13.4% downside. In a report issued on July 29, Citigroup also maintained a Hold rating on the stock with a $12.00 price target.

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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.

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