Dominion Midstream Partners LP (DM) Sees Large Volume Increase
Dominion Midstream Partners LP (NYSE:DM) shares saw an uptick in trading volume on Tuesday . 205,639 shares traded hands during mid-day trading, an increase of 45% from the previous session’s volume of 141,878 shares.The stock last traded at $25.05 and had previously closed at $25.42.
Several brokerages have issued reports on DM. Zacks Investment Research lowered shares of Dominion Midstream Partners from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Barclays PLC lifted their price objective on shares of Dominion Midstream Partners from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, May 5th. Finally, Stifel Nicolaus initiated coverage on shares of Dominion Midstream Partners in a research report on Wednesday, July 13th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Dominion Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $37.56.
The company has a market capitalization of $1.97 billion and a price-to-earnings ratio of 21.89. The company has a 50 day moving average of $27.01 and a 200 day moving average of $29.42.
Dominion Midstream Partners (NYSE:DM) last issued its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (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 company posted $0.26 earnings per share. The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $93.83 million. The firm’s quarterly revenue was down 18.8% compared to the same quarter last year. On average, analysts forecast that Dominion Midstream Partners LP will post $1.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, August 5th will be paid a dividend of $0.2355 per share. This represents a $0.94 annualized dividend and a yield of 3.72%. This is an increase from Dominion Midstream Partners’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, August 3rd.
In related news, Director Dominion Resources Inc /Va/ bought 37,382 shares of the business’s stock in a transaction that occurred on Friday, June 17th. The shares were acquired at an average cost of $26.68 per share, with a total value of $997,351.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Jennison Associates LLC increased its position in Dominion Midstream Partners by 9.7% in the fourth quarter. Jennison Associates LLC now owns 992,136 shares of the company’s stock valued at $30,419,000 after buying an additional 88,013 shares during the last quarter. Chickasaw Capital Management LLC increased its position 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 last quarter. Finally, Kayne Anderson Capital Advisors LP increased its position in Dominion Midstream Partners by 82.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,831,125 shares of the company’s stock valued at $56,137,000 after buying an additional 828,909 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.