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DCP Midstream Partners, LP (DPM)

  • Thu, Jun. 25, 2:52 PM
    • DCP Midstream Partners (DPM -2.4%) is downgraded to Sell from Neutral with a $31 price target, cut from $41, at UBS on the back of the firm's natural gas liquids pricing revision, which prompted a similar downgrade of Chesapeake Energy.
    • UBS expects weakness in propane/butane to continue in the near term before staging a recovery in Q4, and thus will continue to pressure DPM's credit profile.
    • The firm lowers its 2015, 2016 and 2017 EBITDA estimates to a respective $629M, $621M and $692M from $641M, $665M and $744M to reflect the impact of changes to its forecasts and acknowledge that further slowdowns in drilling activity could pressure volumes.
    | Thu, Jun. 25, 2:52 PM | 1 Comment
  • Nov. 28, 2014, 10:20 AM
    • Virtually every company related to oil is taking hit after OPEC decides to maintain production. Pipeline firms are down 1 - 10%.
    • Representative tickers: (AM -3.7%)(BPL -2.8%)(DM -5.2%)(DPM -3.3%)(ENB -3.9%)(EPB)(ETE -6%)(ETP -2.8%)(PAA -4.1%)(MMP -2.8%)(OKS -3%)(WGP -3.5%)
    | Nov. 28, 2014, 10:20 AM | 17 Comments
  • Feb. 26, 2014, 5:03 PM
    • DCP Midstream (DPM) -2.7% AH after announcing a public offering of 12.5M common units.
    • DPM says it will use the proceeds to pay down debt and part of the $1.15M dropdown transaction announced in today's Q4 earnings report, as well as for organic growth projects and general partnership purposes.
    | Feb. 26, 2014, 5:03 PM | Comment!
  • Oct. 28, 2013, 10:53 AM
    • Sandell Asset Management is urging Spectra Energy (SE +0.3%) to present to the market a road map for value creation by the end of the year, Reuters reports.
    • One way to unlock shareholder value, the activist investor says, is to swap its 50% interest in DCP Midstream Partners (DPM -0.2%) for equity in Phillips 66's MLP (PSXP +3%) in a deal that could improve the valuation of both companies.
    • Sandell reportedly said in an Oct. 2 letter that it believes DCP's assets are a better fit with Phillips 66 Partners; it had pressed SE for changes in a June letter, when it said it believes SE is undervalued and should trade at ~$48//share.
    | Oct. 28, 2013, 10:53 AM | 1 Comment
  • Sep. 18, 2013, 2:32 PM
    | Sep. 18, 2013, 2:32 PM | 8 Comments
  • Aug. 6, 2013, 3:45 PM
    • Spectra Energy (SE -1.6%) rejects calls from activist shareholder Sandell to sell or spin off its western Canadian pipelines or its stake in DCP Midstream (DPM); selling shares in the Canadian unit would create tax problems and DCP’s rising cash flow will boost SE’s stock price, CEO Greg Ebel says.
    • Sandell said last month it considered a sale of assets to the partnership - which SE valued today at ~$9.68B - about a third of its plan for Spectra.
    | Aug. 6, 2013, 3:45 PM | Comment!
  • Jul. 16, 2013, 10:19 AM
    DCP Midstream (DPM -2.9%) slides after Credit Suisse cuts shares to Underperform. The gas pipeline owner delivers its Q2 report on Aug. 6.
    | Jul. 16, 2013, 10:19 AM | Comment!
  • Apr. 26, 2013, 3:57 PM
    Credit Suisse upgrades EQT Midstream Partners (EQM +4.7%) to Outperform after issuing Q1 results well ahead of the firm's expectations and increasing its FY 2013 guidance on EBITDA and distribution cash flow, and cuts Exterran Partners (EXLP) and DCP Midstream (DPM) on valuation (I, II). EQM is enjoying higher throughput on its assets as Marcellus shale activity remains robust.
    | Apr. 26, 2013, 3:57 PM | Comment!
  • Mar. 1, 2012, 5:08 PM
    DCP Midstream Partners (DPM) -4% AH after announcing a 4.75M share stock offering, good for proceeds of $233.7M based on today's close. DCP says it will partly use the offering's proceeds to pay down debt obtained through its revolving credit facility.
    | Mar. 1, 2012, 5:08 PM | Comment!
Company Description
DCP Midstream Partners LP along with its subsidiaries is engaged gathering, compressing, treating, processing, transporting, storing and selling natural gas; NGLs and condensate; and transporting, storing and selling propane in wholesale markets.