Dominion Midstream Partners LP (DM) Now Covered by Analysts at Mizuho
Several other brokerages have also recently issued reports on DM. Zacks Investment Research upgraded shares of Dominion Midstream Partners from a hold rating to a buy rating and set a $31.00 price target for the company in a research report on Wednesday, July 6th. Stifel Nicolaus upgraded shares of Dominion Midstream Partners from a hold rating to a buy rating and set a $29.00 price target for the company in a research report on Wednesday, September 14th. They noted that the move was a valuation call. Morgan Stanley cut shares of Dominion Midstream Partners from an overweight rating to an equal weight rating and decreased their price target for the company from $40.00 to $30.00 in a research report on Thursday, August 18th. Finally, Barclays PLC decreased their price target on shares of Dominion Midstream Partners from $35.00 to $32.00 and set an overweight rating for the company in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $34.33.
Dominion Midstream Partners (NYSE:DM) traded up 1.28% during midday trading on Thursday, reaching $23.80. 110,417 shares of the company traded hands. The stock has a market capitalization of $1.85 billion, a P/E ratio of 20.57 and a beta of 1.71. Dominion Midstream Partners has a 12-month low of $23.12 and a 12-month high of $35.88. The company has a 50 day moving average of $25.06 and a 200-day moving average of $28.36.
Dominion Midstream Partners (NYSE:DM) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company earned $85.60 million during the quarter, compared to the consensus estimate of $93.83 million. Dominion Midstream Partners had a net margin of 19.33% and a return on equity of 1.82%. Dominion Midstream Partners’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. Equities analysts anticipate that Dominion Midstream Partners will post $1.17 EPS for the current fiscal year.
In other news, Director Dominion Resources Inc /Va/ purchased 56,744 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were bought at an average cost of $25.04 per share, with a total value of $1,420,869.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.17% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DM. Harvest Fund Advisors LLC raised its position in Dominion Midstream Partners by 5.9% in the first quarter. Harvest Fund Advisors LLC now owns 959,686 shares of the company’s stock worth $32,389,000 after buying an additional 53,068 shares during the last quarter. Geneva Advisors LLC increased its stake in Dominion Midstream Partners by 8.2% in the second quarter. Geneva Advisors LLC now owns 120,383 shares of the company’s stock worth $3,386,000 after buying an additional 9,118 shares during the period. Blair William & Co. IL increased its stake in Dominion Midstream Partners by 9.1% in the second quarter. Blair William & Co. IL now owns 10,882 shares of the company’s stock worth $306,000 after buying an additional 912 shares during the period. Spirit of America Management Corp NY increased its stake in Dominion Midstream Partners by 5.0% in the second quarter. Spirit of America Management Corp NY now owns 374,949 shares of the company’s stock worth $10,547,000 after buying an additional 17,800 shares during the period. Finally, Commonwealth Equity Services Inc increased its stake in Dominion Midstream Partners by 3.2% in the first quarter. Commonwealth Equity Services Inc now owns 8,079 shares of the company’s stock worth $273,000 after buying an additional 251 shares during the period. 37.42% of the stock is currently owned by institutional investors.
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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