Zacks Investment Research cut shares of Dominion Midstream Partners LP (NYSE:DM) from a hold rating to a sell rating in a report issued on Friday, May 5th.
According to Zacks, “Dominion Midstream Partners, LP owns, operates and develops natural gas infrastructure assets. The Company is formed to own the interests in Dominion Cove Point LNG, LP, which owns liquefied natural gas (LNG) import, storage, regasification and transportation assets. Cove Point’s operations consist of LNG import and storage services at the Cove Point LNG Facility and the transportation of domestic natural gas and regasified LNG to Mid-Atlantic markets via the Cove Point Pipeline. Dominion Midstream Partners, LP is headquartered in Richmond, Virginia. “
DM has been the subject of several other research reports. Scotiabank reiterated a buy rating and issued a $35.00 price objective on shares of Dominion Midstream Partners in a research note on Thursday, April 27th. Tudor Pickering cut Dominion Midstream Partners from a buy rating to a hold rating in a research note on Monday, April 3rd. Mizuho lifted their price objective on Dominion Midstream Partners from $30.00 to $36.00 and gave the company a buy rating in a research note on Thursday, February 2nd. Stifel Nicolaus lifted their price objective on Dominion Midstream Partners from $32.00 to $35.00 and gave the company a buy rating in a research note on Thursday, January 26th. Finally, TheStreet upgraded Dominion Midstream Partners from a c+ rating to a b- rating in a research note on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $34.33.
Dominion Midstream Partners (NYSE:DM) last announced its quarterly earnings data on Thursday, May 4th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $130.20 million during the quarter, compared to analysts’ expectations of $142.48 million. Dominion Midstream Partners had a return on equity of 1.98% and a net margin of 19.49%. The business’s quarterly revenue was up 56.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS.
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The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, May 5th were paid a $0.274 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This is an increase from Dominion Midstream Partners’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.73%. Dominion Midstream Partners’s payout ratio is 83.20%.
Several hedge funds have recently bought and sold shares of DM. Stifel Financial Corp increased its stake in Dominion Midstream Partners by 0.9% in the first quarter. Stifel Financial Corp now owns 34,978 shares of the pipeline company’s stock worth $1,116,000 after buying an additional 313 shares during the period. Linscomb & Williams Inc. increased its stake in Dominion Midstream Partners by 13.5% in the fourth quarter. Linscomb & Williams Inc. now owns 10,362 shares of the pipeline company’s stock worth $306,000 after buying an additional 1,234 shares during the period. Cutler Capital Management LLC increased its stake in Dominion Midstream Partners by 6.4% in the first quarter. Cutler Capital Management LLC now owns 25,000 shares of the pipeline company’s stock worth $799,000 after buying an additional 1,500 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in Dominion Midstream Partners during the first quarter worth $137,000. Finally, Signaturefd LLC increased its stake in Dominion Midstream Partners by 48.6% in the first quarter. Signaturefd LLC now owns 13,750 shares of the pipeline company’s stock worth $439,000 after buying an additional 4,500 shares during the period. Hedge funds and other institutional investors own 31.69% of the company’s stock.
Dominion Midstream Partners Company Profile
Dominion Midstream Partners, LP is a limited partnership. The Company is formed to grow a portfolio of natural gas terminaling, processing, storage, transportation and related assets. The Company’s segments include Dominion Energy, which consists of gas transportation, liquefied natural gas (LNG) import and storage, and Corporate and Other.
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