Proficio Capital Partners LLC Has $196,000 Position in Dominion Midstream Partners LP (DM)
Proficio Capital Partners LLC maintained its stake in Dominion Midstream Partners LP (NYSE:DM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,362 shares of the company’s stock at the end of the second quarter. Proficio Capital Partners LLC’s holdings in Dominion Midstream Partners were worth $196,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Duff & Phelps Investment Management Co. boosted its stake in Dominion Midstream Partners by 11.1% in the second quarter. Duff & Phelps Investment Management Co. now owns 401,100 shares of the company’s stock worth $11,283,000 after buying an additional 40,000 shares during the period. American Century Companies Inc. bought a new stake in shares of Dominion Midstream Partners during the second quarter worth approximately $1,666,000. Bank of Montreal Can bought a new stake in shares of Dominion Midstream Partners during the second quarter worth approximately $788,000. Center Coast Capital Advisors LP boosted its stake in shares of Dominion Midstream Partners by 41.5% in the second quarter. Center Coast Capital Advisors LP now owns 804,325 shares of the company’s stock worth $22,626,000 after buying an additional 235,963 shares during the last quarter. Finally, A. D. Beadell Investment Counsel Inc. bought a new stake in shares of Dominion Midstream Partners during the second quarter worth approximately $797,000. Institutional investors own 37.40% of the company’s stock.
Shares of Dominion Midstream Partners LP (NYSE:DM) traded down 2.73% during trading on Monday, reaching $23.90. The company had a trading volume of 58,237 shares. The stock’s 50-day moving average price is $24.79 and its 200-day moving average price is $27.71. Dominion Midstream Partners LP has a 52 week low of $23.12 and a 52 week high of $35.88. The company has a market capitalization of $1.86 billion, a PE ratio of 20.66 and a beta of 1.72.
Dominion Midstream Partners (NYSE:DM) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. Dominion Midstream Partners had a return on equity of 1.82% and a net margin of 19.33%. The firm had revenue of $85.60 million for the quarter, compared to analyst estimates of $93.83 million. During the same period in the prior year, the firm posted $0.26 EPS. The business’s revenue was down 18.8% compared to the same quarter last year. On average, equities analysts expect that Dominion Midstream Partners LP will post $1.17 EPS for the current fiscal year.
A number of analysts have commented on the company. Zacks Investment Research upgraded Dominion Midstream Partners from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Tuesday, October 11th. Wolfe Research assumed coverage on Dominion Midstream Partners in a research report on Friday, October 7th. They issued a “buy” rating and a $28.00 price target for the company. Mizuho assumed coverage on Dominion Midstream Partners in a research report on Thursday, September 29th. They issued a “buy” rating and a $30.00 price target for the company. Stifel Nicolaus upgraded Dominion Midstream Partners from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, September 14th. They noted that the move was a valuation call. Finally, Morgan Stanley cut Dominion Midstream Partners from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $40.00 to $30.00 in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.40.
In related news, Director Dominion Resources Inc /Va/ acquired 29,046 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was acquired at an average price of $25.43 per share, with a total value of $738,639.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.17% of the stock is owned by insiders.
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.
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