Citi Maintains 'Hold' on DCP Midstream Partners LP (DPM), Drops Price Target to $27
More News related to DPM
- DCP Midstream Partners Completes Phase Two of Wyoming Gas Gathering System Enhancements
- DCP Midstream Partners Announces Changes to Its Board of Directors
- Chelopech Finalizes Modified Concentrate Processing Contract and Loan Agreement with Namibian Custom Smelters and Weatherly International plc
- Chelopech Finalizes Modified Concentrate Processing Contract and Loan Agreement with Namibian Custom Smelters and Weatherly International plc
- DCP Midstream Partners Announces Management Changes
More News related to Analyst Comments
- Deutsche Bank Downgrades and Lowers Estimates On Global Metals and Mining Companies (RIO, AAUK)
- Soleil Securities Maintains a Buy on Airgas (ARG), Lowers Estimates and Price Target
- Buckingham Research Maintains a 'Neutral' Rating on Wal-Mart (WMT), See Upside/Downside Fairly Balanced
- Wedbush Morgan Maintains a 'Hold' on Majesco Holdings (COOL), Impressed With Progress But Investors Remain Skeptical
- Wedbush Morgan Maintains a 'Hold' on Family Dollar Stores (FDO), Raises Price Target and Estimates
Citi maintains 'Hold' rating on DCP Midstream Partners LP (NYSE: DPM), but lowers price target from $38.50 to $27.
Citi analyst says, "Despite very strong natural gas gathering and processing fundamentals, DPM reported lower than expected results for the quarter as hedging losses offset fundamentals. DPM reported adjusted EBITDA of $28.8 million or ~11% below our expectations as hedging losses showed another sequential increase to $16.3 million...In the near term we believe valuations for MLPs will reflect a changing broader yield environment. However, we expect midstream MLPs to outperform alternative yielding asset classes in the long term due to strong fundamentals and growing distribution to unit holders."
DCP Midstream Partners, LP, along with its consolidated subsidiaries, was formed by DCP Midstream, LLC to own, operate, acquire and develop a diversified portfolio of midstream energy assets.
Related Categories
Analyst CommentsStocks Mentioned
+0.39Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
