Mizuho Begins Coverage on Dominion Midstream Partners LP (DM)
Mizuho assumed coverage on shares of Dominion Midstream Partners LP (NYSE:DM) in a research report sent to investors on Thursday. The firm issued a buy rating and a $30.00 price objective on the stock.
Several other equities analysts have also commented on DM. Zacks Investment Research upgraded Dominion Midstream Partners from a hold rating to a buy rating and set a $31.00 price objective on the stock in a research report on Wednesday, July 6th. Stifel Nicolaus initiated coverage on Dominion Midstream Partners in a research report on Wednesday, July 13th. They set a hold rating on the stock. Barclays PLC reduced their price objective on Dominion Midstream Partners from $35.00 to $32.00 and set an overweight rating on the stock in a research report on Thursday, August 4th. Finally, Morgan Stanley lowered Dominion Midstream Partners from an overweight rating to an equal weight rating and reduced their price objective for the company from $40.00 to $30.00 in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Dominion Midstream Partners currently has a consensus rating of Hold and a consensus target price of $34.33.
Shares of Dominion Midstream Partners (NYSE:DM) opened at 24.16 on Thursday. The company has a market capitalization of $1.88 billion, a P/E ratio of 20.88 and a beta of 1.72. Dominion Midstream Partners has a one year low of $23.12 and a one year high of $35.88. The firm has a 50-day moving average price of $24.93 and a 200-day moving average price of $28.07.
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. The firm had revenue of $85.60 million for the quarter, compared to the consensus estimate of $93.83 million. Dominion Midstream Partners had a net margin of 19.33% and a return on equity of 1.82%. Dominion Midstream Partners’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. Equities analysts forecast that Dominion Midstream Partners will post $1.17 earnings per share for the current year.
In other news, Director Dominion Resources Inc /Va/ bought 56,744 shares of the stock in a transaction dated Friday, September 16th. The stock was bought at an average price of $25.04 per share, for a total transaction of $1,420,869.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.17% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc boosted its position in Dominion Midstream Partners by 3.2% in the first quarter. Commonwealth Equity Services Inc now owns 8,079 shares of the company’s stock worth $273,000 after buying an additional 251 shares during the last quarter. State Street Corp boosted its position in Dominion Midstream Partners by 4.1% in the first quarter. State Street Corp now owns 22,183 shares of the company’s stock worth $749,000 after buying an additional 867 shares during the last quarter. BP Capital Fund Advisors LLC purchased a new position in Dominion Midstream Partners during the first quarter worth approximately $1,663,000. Harvest Fund Advisors LLC boosted its position in Dominion Midstream Partners by 5.9% in the first quarter. Harvest Fund Advisors LLC now owns 959,686 shares of the company’s stock worth $32,389,000 after buying an additional 53,068 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its position in Dominion Midstream Partners by 5.0% in the second quarter. Spirit of America Management Corp NY now owns 374,949 shares of the company’s stock worth $10,547,000 after buying an additional 17,800 shares during the last quarter. Institutional investors own 37.42% of the company’s stock.
About Dominion Midstream Partners
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.
Receive News & Ratings for Dominion Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dominion Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.