Dominion Midstream Partners LP (NYSE:DM) Receives $35.43 Consensus Target Price from Analysts
Dominion Midstream Partners LP (NYSE:DM) has earned an average rating of “Hold” from the nine ratings firms that are presently covering the company. Two 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 company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $35.43.
A number of research firms have commented on DM. Stifel Nicolaus began coverage on Dominion Midstream Partners in a report on Wednesday, July 13th. They set a “hold” rating on the stock. Barclays PLC reduced their target price on Dominion Midstream Partners from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, August 4th. Morgan Stanley downgraded Dominion Midstream Partners from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $40.00 to $30.00 in a report on Thursday, August 18th. Finally, Zacks Investment Research raised 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.
In other Dominion Midstream Partners news, Director Dominion Resources Inc /Va/ bought 56,744 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were purchased at an average cost of $25.04 per share, for a total transaction of $1,420,869.76. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 11.17% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Credit Suisse AG boosted its position in shares of Dominion Midstream Partners by 919.3% in the second quarter. Credit Suisse AG now owns 318,370 shares of the company’s stock valued at $8,956,000 after buying an additional 287,135 shares during the period. Center Coast Capital Advisors LP boosted its position in shares of Dominion Midstream Partners by 41.5% in the second quarter. Center Coast Capital Advisors LP now owns 804,325 shares of the company’s stock valued at $22,626,000 after buying an additional 235,963 shares during the period. Fort Washington Investment Advisors Inc OH purchased a new position in shares of Dominion Midstream Partners during the second quarter valued at about $2,532,000. Janney Montgomery Scott LLC purchased a new position in shares of Dominion Midstream Partners during the second quarter valued at about $2,310,000. Finally, Tortoise Capital Advisors L.L.C. boosted its position in shares of Dominion Midstream Partners by 2.2% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 2,861,093 shares of the company’s stock valued at $80,483,000 after buying an additional 61,986 shares during the period. Institutional investors own 37.42% of the company’s stock.
Dominion Midstream Partners (NYSE:DM) opened at 24.03 on Friday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 20.77 and a beta of 1.71. The company’s 50-day moving average price is $25.13 and its 200-day moving average price is $28.43. Dominion Midstream Partners has a one year low of $23.12 and a one year high of $35.88.
Dominion Midstream Partners (NYSE:DM) last released its 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. Dominion Midstream Partners had a return on equity of 1.82% and a net margin of 19.33%. The firm had revenue of $85.60 million for the quarter, compared to the consensus estimate of $93.83 million. During the same period in the prior year, the business earned $0.26 EPS. The company’s quarterly revenue was down 18.8% on a year-over-year basis. On average, analysts anticipate that Dominion Midstream Partners will post $1.17 EPS for the current year.
About Dominion Midstream Partners
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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