ELCO Management Co. LLC bought a new position in DCP Midstream Partners, LP (NYSE:DCP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,743 shares of the pipeline company’s stock, valued at approximately $634,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ffcm LLC bought a new position in shares of DCP Midstream Partners, during the second quarter valued at $117,000. Salem Investment Counselors Inc. purchased a new position in shares of DCP Midstream Partners, in the 2nd quarter worth about $135,000. Solaris Asset Management LLC purchased a new position in shares of DCP Midstream Partners, in the 2nd quarter worth about $140,000. Penserra Capital Management LLC purchased a new position in shares of DCP Midstream Partners, in the 2nd quarter worth about $162,000. Finally, QS Investors LLC bought a new position in DCP Midstream Partners, in the 2nd quarter worth about $167,000. 55.13% of the stock is currently owned by hedge funds and other institutional investors.

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DCP has been the topic of several recent analyst reports. Zacks Investment Research raised shares of DCP Midstream Partners, from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 10th. Royal Bank Of Canada decreased their target price on shares of DCP Midstream Partners, from $40.00 to $37.00 and set a “sector perform” rating for the company in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $33.00 target price (down previously from $35.00) on shares of DCP Midstream Partners, in a research note on Friday, September 1st. Credit Suisse Group dropped their target price on shares of DCP Midstream Partners, from $44.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. Finally, Barclays PLC cut their price target on shares of DCP Midstream Partners, from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.36.

Shares of DCP Midstream Partners, LP (NYSE DCP) traded up 0.46% during mid-day trading on Wednesday, hitting $34.64. 44,479 shares of the stock were exchanged. DCP Midstream Partners, LP has a 12 month low of $29.70 and a 12 month high of $42.45. The stock’s 50 day moving average is $32.19 and its 200-day moving average is $34.57. The stock has a market cap of $4.96 billion, a PE ratio of 18.69 and a beta of 2.10.

DCP Midstream Partners, (NYSE:DCP) last released its earnings results on Monday, August 7th. The pipeline company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.60 billion. DCP Midstream Partners, had a net margin of 7.93% and a return on equity of 6.71%. DCP Midstream Partners,’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts anticipate that DCP Midstream Partners, LP will post $1.29 EPS for the current year.

DCP Midstream Partners, 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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Institutional Ownership by Quarter for DCP Midstream Partners, (NYSE:DCP)

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