Dominion Midstream Partners LP (DM) Shares Up 1.8%
Dominion Midstream Partners LP (NYSE:DM)’s share price shot up 1.8% during trading on Thursday . The company traded as high as $25.15 and last traded at $24.86, with a volume of 68,840 shares traded. The stock had previously closed at $24.41.
DM has been the subject of several analyst reports. Zacks Investment Research raised shares of Dominion Midstream Partners from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, July 6th. Barclays PLC lifted their price target on shares of Dominion Midstream Partners from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, May 5th. Morgan Stanley downgraded shares of Dominion Midstream Partners from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $40.00 to $30.00 in a report on Thursday, August 18th. Finally, Stifel Nicolaus initiated coverage on shares of Dominion Midstream Partners in a report on Wednesday, July 13th. They set a “hold” rating for the company. Three 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’s stock. Dominion Midstream Partners has an average rating of “Hold” and an average target price of $35.50.
The firm’s 50 day moving average is $26.25 and its 200-day moving average is $29.24. The company has a market capitalization of $1.98 billion and a PE ratio of 22.04.
Dominion Midstream Partners (NYSE:DM) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. During the same quarter in the previous year, the business earned $0.26 EPS. The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $93.83 million. The business’s quarterly revenue was down 18.8% compared to the same quarter last year. On average, equities analysts forecast that Dominion Midstream Partners LP will post $1.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, August 5th were paid a $0.2355 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $0.94 annualized dividend and a dividend yield of 3.69%. This is a boost from Dominion Midstream Partners’s previous quarterly dividend of $0.22.
In other Dominion Midstream Partners news, Director Dominion Resources Inc /Va/ purchased 37,382 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The shares were acquired 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 Securities & Exchange Commission, which is accessible through this link.
A hedge fund recently raised its stake in Dominion Midstream Partners stock. Jennison Associates LLC raised its stake in shares of 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. The fund owned 992,136 shares of the company’s stock after buying an additional 88,013 shares during the period. Jennison Associates LLC owned approximately 1.28% of Dominion Midstream Partners worth $30,419,000 as of its most recent SEC filing.
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.