Why Units of DCP Midstream Rallied 40% in May
Units of MLP DCP Midstream (NYSE: DCP) surged 40.1% in May, according to data provided by S&P Global Market Intelligence. Fueling the rally were its first-quarter results and an improvement in the oil market.
DCP Midstream reported surprisingly strong first-quarter results last month. While its earnings and cash flow dipped by about 2%, that was a solid showing considering all the volatility in the oil market. The company benefited from recently completed expansion projects and excellent NGL marketing results.
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Source Fool.com
