Bank Of America Raises Estimates On DCP Midstream Partners Following Conference

After their discussion with DPM Midstream Partners LP DPM's management at an MLPA conference in early June, Bank of America analysts are confident in DPM’s ability to maintain their cash distributions to shareholders.

The analysts reiterated their Buy rating and mentioned that investor sentiment seems more favorable. Citing cost savings from operational efficiencies and margin improvements from realigned contracts, Bank of America raised its price target on DPM shares to $36 from $25.

DPM closed Monday at $33.88, up nearly 2 percent.