Dominion Midstream Partners LP (DM) Shares Down 0.8%
Dominion Midstream Partners LP (NYSE:DM) was down 0.8% during mid-day trading on Tuesday . The company traded as low as $25.03 and last traded at $25.17, with a volume of 132,514 shares changing hands. The stock had previously closed at $25.37.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Dominion Midstream Partners from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Wednesday, July 6th. Morgan Stanley downgraded shares of Dominion Midstream Partners from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $40.00 to $30.00 in a report on Thursday, August 18th. Stifel Nicolaus assumed coverage on shares of Dominion Midstream Partners in a report on Wednesday, July 13th. They set a “hold” rating on the stock. Finally, Barclays PLC raised their price target on shares of Dominion Midstream Partners from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, May 5th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Dominion Midstream Partners currently has an average rating of “Hold” and an average price target of $35.50.
The company has a 50-day moving average of $26.48 and a 200 day moving average of $29.31. The stock has a market cap of $1.94 billion and a PE ratio of 21.56.
Dominion Midstream Partners (NYSE:DM) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $93.83 million. During the same period in the prior year, the company posted $0.26 EPS. Dominion Midstream Partners’s revenue was down 18.8% on a year-over-year basis. Analysts expect that Dominion Midstream Partners LP will post $1.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, August 5th were given a $0.2355 dividend. This represents a $0.94 annualized dividend and a dividend yield of 3.78%. This is an increase from Dominion Midstream Partners’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, August 3rd.
In related news, Director Dominion Resources Inc /Va/ acquired 37,382 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were bought at an average cost of $26.68 per share, with a total value of $997,351.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in Dominion Midstream Partners stock. Kayne Anderson Capital Advisors LP increased its stake in shares of Dominion Midstream Partners LP (NYSE:DM) by 82.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,831,125 shares of the company’s stock after buying an additional 828,909 shares during the period. Kayne Anderson Capital Advisors LP owned approximately 2.36% of Dominion Midstream Partners worth $56,137,000 at the end of the most recent reporting period.
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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