Dominion Midstream Partners LP (NYSE:DM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $28.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 13.27% from the company’s previous close.

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. “

Several other equities analysts have also recently issued reports on DM. Stifel Nicolaus started coverage on Dominion Midstream Partners in a research note on Wednesday, July 13th. They set a “hold” rating on the stock. Mizuho started coverage on Dominion Midstream Partners in a research note on Thursday, September 29th. They set a “buy” rating and a $30.00 target price 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 research note on Thursday, August 4th. Wolfe Research started coverage on Dominion Midstream Partners in a research note on Friday. They set a “buy” rating and a $28.00 target price on the stock. Finally, Morgan Stanley cut Dominion Midstream Partners from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $40.00 to $30.00 in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $33.40.

Analyst Recommendations for Dominion Midstream Partners (NYSE:DM)

Dominion Midstream Partners (NYSE:DM) traded down 1.63% during midday trading on Tuesday, reaching $24.72. The company had a trading volume of 82,343 shares. 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 $24.79 and a 200-day moving average of $27.81. The stock has a market capitalization of $1.92 billion, a PE ratio of 21.37 and a beta of 1.72.

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 the Zacks’ consensus estimate of $0.29 by $0.01. The company earned $85.60 million during the quarter, compared to analysts’ expectations of $93.83 million. Dominion Midstream Partners had a return on equity of 1.82% and a net margin of 19.33%. Dominion Midstream Partners’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, analysts predict that Dominion Midstream Partners will post $1.17 EPS for the current fiscal year.

In related news, Director Dominion Resources Inc /Va/ bought 56,744 shares of the company’s stock in a transaction on Friday, September 16th. The shares were acquired at an average cost of $25.04 per share, with a total value of $1,420,869.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.17% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in DM. Credit Suisse AG increased its stake in 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 increased its stake in 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 bought a new stake in Dominion Midstream Partners during the second quarter valued at approximately $2,532,000. Janney Montgomery Scott LLC bought a new stake in Dominion Midstream Partners during the second quarter valued at approximately $2,310,000. Finally, Tortoise Capital Advisors L.L.C. increased its stake in 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. 37.42% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:DM

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