Kellner Capital LLC Invests $537,000 in Dominion Energy Midstream Partners LP (DM) Stock
Kellner Capital LLC acquired a new stake in Dominion Energy Midstream Partners LP (NYSE:DM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the pipeline company’s stock, valued at approximately $537,000.
A number of other large investors also recently added to or reduced their stakes in DM. Opera Trading Capital bought a new stake in shares of Dominion Energy Midstream Partners during the third quarter valued at approximately $508,000. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Dominion Energy Midstream Partners by 16.5% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 6,380,140 shares of the pipeline company’s stock valued at $117,665,000 after buying an additional 904,313 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Dominion Energy Midstream Partners during the third quarter valued at approximately $3,580,000. Candriam Luxembourg S.C.A. bought a new stake in shares of Dominion Energy Midstream Partners during the third quarter valued at approximately $1,754,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Dominion Energy Midstream Partners during the third quarter valued at approximately $2,246,000. 31.67% of the stock is currently owned by institutional investors.
Several brokerages recently commented on DM. Zacks Investment Research cut Dominion Energy Midstream Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Barclays set a $17.00 target price on Dominion Energy Midstream Partners and gave the stock a “hold” rating in a report on Friday, October 12th. Morgan Stanley boosted their target price on Dominion Energy Midstream Partners from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, September 21st. Finally, Citigroup cut Dominion Energy Midstream Partners from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a report on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $21.80.
Dominion Energy Midstream Partners (NYSE:DM) last posted its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.04). The company had revenue of $284.20 million during the quarter, compared to the consensus estimate of $298.60 million. Dominion Energy Midstream Partners had a net margin of 21.93% and a return on equity of 2.70%. Dominion Energy Midstream Partners’s quarterly revenue was up 151.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. As a group, analysts anticipate that Dominion Energy Midstream Partners LP will post 1.49 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 5th were issued a $0.369 dividend. The ex-dividend date was Friday, November 2nd. This represents a $1.48 annualized dividend and a dividend yield of 7.98%. This is a boost from Dominion Energy Midstream Partners’s previous quarterly dividend of $0.35. Dominion Energy Midstream Partners’s dividend payout ratio is currently 109.63%.
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About Dominion Energy Midstream Partners
Dominion Energy Midstream Partners, LP owns liquefied natural gas (LNG) terminalling, storage, regasification, and transportation assets. It owns and operates LNG terminalling and storage facility located on the Chesapeake Bay in Lusby, Maryland. The company also operates an interstate pipeline in South Carolina and southeastern Georgia comprising natural gas system consisting of approximately 1,500 miles of transmission pipeline and 5 compressor stations with approximately 34,500 installed compressor horsepower.
Further Reading: Put Option
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