Dominion Midstream Partners LP (DM) Sees Strong Trading Volume
Dominion Midstream Partners LP (NYSE:DM) saw strong trading volume on Tuesday . 205,639 shares were traded during trading, an increase of 45% from the previous session’s volume of 141,878 shares.The stock last traded at $25.05 and had previously closed at $25.42.
DM has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Dominion Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Barclays PLC lifted their price target on Dominion Midstream Partners from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, May 5th. Finally, Stifel Nicolaus initiated coverage on Dominion Midstream Partners in a report on Wednesday, July 13th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $37.56.
The stock’s 50 day moving average is $26.91 and its 200 day moving average is $29.38. The stock has a market cap of $1.95 billion and a PE ratio of 21.75.
Dominion Midstream Partners (NYSE:DM) last announced its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.01. During the same period in the prior year, the company earned $0.26 earnings per share. The firm earned $85.60 million during the quarter, compared to analysts’ expectations of $93.83 million. The business’s quarterly revenue was down 18.8% on a year-over-year basis. Equities research analysts predict that Dominion Midstream Partners LP will post $1.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, August 5th will be paid a $0.2355 dividend. The ex-dividend date is Wednesday, August 3rd. This represents a $0.94 annualized dividend and a dividend yield of 3.81%. This is a positive change from Dominion Midstream Partners’s previous quarterly dividend of $0.22.
In related news, Director Dominion Resources Inc /Va/ purchased 37,382 shares of the business’s stock in a transaction that occurred on Friday, June 17th. The shares were bought at an average price of $26.68 per share, for a total transaction of $997,351.76. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Other hedge funds recently bought and sold shares of the company. Chickasaw Capital Management LLC increased its stake in Dominion Midstream Partners by 49.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 893,125 shares of the company’s stock valued at $27,383,000 after buying an additional 296,366 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Dominion Midstream Partners by 9.7% in the fourth quarter. Jennison Associates LLC now owns 992,136 shares of the company’s stock valued at $30,419,000 after buying an additional 88,013 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its stake in shares of Dominion Midstream Partners by 82.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,831,125 shares of the company’s stock valued at $56,137,000 after buying an additional 828,909 shares in the last quarter.
Dominion Midstream Partners, LP owns the preferred equity interests and the general partner interest of Dominion Cove Point LNG, LP (Cove Point). Cove Point owns liquefied natural gas (LNG) import, storage, regasification and transportation assets. The Company’s segment is Dominion Energy, which consists of gas transportation, LNG import and storage.
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