Dominion Midstream Partners LP (DM) Stock Price Up 4.1%
Dominion Midstream Partners LP (NYSE:DM)’s share price rose 4.1% on Thursday . The stock traded as high as $25.75 and last traded at $25.74, with a volume of 51,961 shares. The stock had previously closed at $24.72.
DM has been the topic of several recent research reports. Zacks Investment Research cut shares of Dominion Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Barclays PLC increased their price objective on shares of Dominion Midstream Partners from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, May 5th. Finally, Stifel Nicolaus assumed coverage on shares of Dominion Midstream Partners in a research note on Wednesday, July 13th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $37.56.
The stock’s 50 day moving average price is $26.78 and its 200 day moving average price is $29.35. The company has a market capitalization of $1.98 billion and a price-to-earnings ratio of 22.07.
Dominion Midstream Partners (NYSE:DM) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. During the same quarter last year, the firm earned $0.26 EPS. The firm earned $85.60 million during the quarter, compared to analyst estimates of $93.83 million. The business’s revenue was down 18.8% on a year-over-year basis. On average, equities research analysts anticipate that Dominion Midstream Partners LP will post $1.20 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, August 5th will be paid a dividend of $0.2355 per share. This is a boost from Dominion Midstream Partners’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, August 3rd. This represents a $0.94 dividend on an annualized basis and a dividend yield of 3.69%.
In other Dominion Midstream Partners news, Director Dominion Resources Inc /Va/ purchased 37,382 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were acquired at an average price of $26.68 per share, for a total transaction of $997,351.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Other large investors have recently modified their holdings of the company. Kayne Anderson Capital Advisors LP raised its stake in shares of 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 worth $56,137,000 after buying an additional 828,909 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in shares of Dominion Midstream Partners by 49.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 893,125 shares of the company’s stock worth $27,383,000 after buying an additional 296,366 shares in the last quarter. Finally, Jennison Associates LLC raised 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 in 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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