Stocks Reaffirm To Gain Attentions: DCP Midstream Partners (NYSE:DPM), Valley National Bancorp (VLY)

DCP Midstream Partners, LP (NYSE:DPM) [Trend Analysis] retains strong position in active trade, as shares scoring -0.60% to $36.70 in a active trade session, while looking at the shares volume, around 99733 shares have changed hands in this session. DCP Midstream, LLC or Midstream, a 50/50 joint venture between Phillips 66 and Spectra Energy or Owners, and DCP Midstream Partners, LP (DPM), reported that they have signed and closed a transaction combining all of the assets and debt of DCP Midstream with DPM, simplifying the corporate structure and creating the largest natural gas liquids or NGL producer and gas processor in the United States.

On January 23, 2017, the combined company will be renamed DCP Midstream, LP and the New York Stock Exchange stock ticker symbol will be changed to “DCP”. As per terms of the Transaction, Midstream has contributed subsidiaries owning all of its assets to DPM, plus $424 million of cash, in exchange for approximately 31.1 million DPM units ($1.125 billion) and DPM assuming $3.15 billion of Midstream debt, for an estimated transaction multiple of approximately eight times based on current commodity strip prices. The firm has institutional ownership of 68.20%, while insider ownership included 19.60%. DPM attains analyst recommendation of 2.90 with week’s performance of -5.50%. Investors looking further ahead will note that the Price to next year’s EPS is 20.61%.

Shares of Valley National Bancorp (NYSE:VLY) [Trend Analysis] swings enthusiastically in regular trading session, it a decrease of -0.84% to close at $11.83. Valley National Bancorp (VLY) reported that retirement of Senior Executive Vice President and Chief Operating Officer Peter Crocitto, effective February 28, 2017, in conjunction with his 40th anniversary with Valley National Bank.

Following his retirement, Mr. Crocitto has agreed to provide consultative services to Valley. Chairman and CEO Gerald Lipkin commented that “Mr. Crocitto has held a number of positions across various areas within Valley National Bank over his career at the Bank.” Gerry praised Peter Crocitto’s contributions to Valley and the financial services sector adding that his contributions and leadership has left a lasting impact on our organization. Moving forward to saw long-term intention, the experts calculate Return on Investment of 21.90%. The stock is going forward its fifty-two week low with 48.85% and lagging behind from its 52-week high price with -1.61%. VLY last month stock price volatility remained 2.13%.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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