Dominion Midstream Partners LP (DM) Trading Down 4%
Dominion Midstream Partners LP (NYSE:DM)’s share price fell 4% during mid-day trading on Wednesday . The company traded as low as $26.29 and last traded at $26.44, with a volume of 74,914 shares changing hands. The stock had previously closed at $27.55.
A number of research firms recently issued reports on DM. Zacks Investment Research upgraded Dominion Midstream Partners from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday, April 27th. Barclays PLC boosted their price objective on Dominion Midstream Partners from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, May 5th. Finally, Stifel Nicolaus began coverage on Dominion Midstream Partners in a report on Wednesday. They set a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Dominion Midstream Partners presently has an average rating of “Hold” and a consensus price target of $38.60.
The firm has a 50 day moving average price of $27.98 and a 200 day moving average price of $29.59. The company has a market capitalization of $2.09 billion and a PE ratio of 23.507.
Dominion Midstream Partners (NYSE:DM) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by $0.02. The company earned $83 million during the quarter, compared to analysts’ expectations of $90.53 million. The firm’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts anticipate that Dominion Midstream Partners LP will post $1.24 earnings per share for the current fiscal year.
In other Dominion Midstream Partners news, Director Dominion Resources Inc /Va/ bought 37,382 shares of the business’s stock in a transaction on Friday, June 17th. The stock was bought at an average price of $26.68 per share, with a total value of $997,351.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of large investors have bought and sold shares of DM. Chickasaw Capital Management LLC boosted 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 period. Jennison Associates LLC boosted 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 worth $30,419,000 after buying an additional 88,013 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Dominion Midstream Partners by 83.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 115,326 shares of the company’s stock worth $3,536,000 after buying an additional 52,491 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. boosted its stake in shares of Dominion Midstream Partners by 28.9% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 70,235 shares of the company’s stock worth $2,153,000 after buying an additional 15,763 shares during 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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