Lee Financial Co Acquires Shares of 8,575 DCP Midstream Partners, LP (NYSE:DCP)

Lee Financial Co acquired a new stake in shares of DCP Midstream Partners, LP (NYSE:DCP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,575 shares of the pipeline company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DCP. Moody National Bank Trust Division acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $497,000. Janney Montgomery Scott LLC acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $758,000. Albert D Mason Inc. acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $762,000. Parkside Financial Bank & Trust acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $1,486,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in DCP Midstream Partners, during the second quarter valued at approximately $3,147,000. 56.04% of the stock is owned by institutional investors and hedge funds.

DCP Midstream Partners, LP (NYSE DCP) opened at 34.49 on Friday. DCP Midstream Partners, LP has a 52 week low of $29.70 and a 52 week high of $42.45. The company has a 50-day moving average of $33.47 and a 200-day moving average of $36.72. The stock has a market cap of $4.94 billion, a P/E ratio of 20.46 and a beta of 2.10.

DCP Midstream Partners, (NYSE:DCP) last posted its quarterly earnings data on Wednesday, May 10th. The pipeline company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $613.40 million. DCP Midstream Partners, had a return on equity of 8.15% and a net margin of 10.53%. The business’s revenue was up 44.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, analysts predict that DCP Midstream Partners, LP will post $1.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Tuesday, August 8th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 9.05%. The ex-dividend date of this dividend is Friday, August 4th. DCP Midstream Partners,’s dividend payout ratio is currently 184.62%.

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DCP has been the subject of several recent research reports. US Capital Advisors raised shares of DCP Midstream Partners, from a “hold” rating to an “overweight” rating in a research note on Wednesday, May 24th. Royal Bank Of Canada lowered 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. Finally, Zacks Investment Research lowered shares of DCP Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $40.30.

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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