Dominion Midstream Partners LP (DM) Trading Up 1.8%
Dominion Midstream Partners LP (NYSE:DM) was up 1.8% during mid-day trading on Thursday . The stock traded as high as $25.15 and last traded at $24.86, with a volume of 68,840 shares changing hands. The stock had previously closed at $24.41.
Several equities research analysts have issued reports on DM shares. Zacks Investment Research downgraded Dominion Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Morgan Stanley downgraded Dominion Midstream Partners from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $40.00 to $30.00 in a report on Thursday, August 18th. Barclays PLC lifted their target price 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 assumed coverage on Dominion Midstream Partners in a report on Wednesday, July 13th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Dominion Midstream Partners presently has an average rating of “Hold” and an average price target of $35.50.
The company has a market cap of $1.93 billion and a P/E ratio of 21.49. The company has a 50-day moving average price of $26.29 and a 200 day moving average price of $29.24.
Dominion Midstream Partners (NYSE:DM) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by $0.01. During the same quarter in the previous year, the business earned $0.26 EPS. The firm earned $85.60 million during the quarter, compared to analysts’ expectations of $93.83 million. The company’s revenue was down 18.8% on a year-over-year basis. On average, equities analysts expect that Dominion Midstream Partners LP will post $1.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, August 5th were given a dividend of $0.2355 per share. This is an increase from Dominion Midstream Partners’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, August 3rd. This represents a $0.94 annualized dividend and a dividend yield of 3.79%.
In other news, Director Dominion Resources Inc /Va/ acquired 37,382 shares of Dominion Midstream Partners stock in a transaction dated Friday, June 17th. The shares were purchased at an average cost of $26.68 per share, for a total transaction of $997,351.76. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
A hedge fund recently raised its stake in Dominion Midstream Partners stock. Jennison Associates LLC increased its stake in Dominion Midstream Partners LP (NYSE:DM) by 9.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 992,136 shares of the company’s stock after buying an additional 88,013 shares during the period. Jennison Associates LLC owned 1.28% of Dominion Midstream Partners worth $30,419,000 as of its most recent filing with the SEC.
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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