Dominion Midstream Partners LP (DM) Lifted to Buy at Stifel Nicolaus
Stifel Nicolaus upgraded shares of Dominion Midstream Partners LP (NYSE:DM) from a hold rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $29.00 price objective on the stock. The analysts noted that the move was a valuation call.
DM has been the topic of several other reports. Zacks Investment Research cut shares of Dominion Midstream Partners from a buy rating to a hold rating in a research note on Thursday, July 7th. Barclays PLC lowered their price objective on shares of Dominion Midstream Partners from $35.00 to $32.00 and set an overweight rating on the stock in a research report on Thursday, August 4th. Finally, Morgan Stanley cut shares of Dominion Midstream Partners from an overweight rating to an equal weight rating and lowered their price objective for the company from $40.00 to $30.00 in a research report on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $34.88.
Shares of Dominion Midstream Partners (NYSE:DM) opened at 24.52 on Wednesday. The firm’s 50-day moving average is $25.67 and its 200-day moving average is $29.02. Dominion Midstream Partners has a 12 month low of $23.12 and a 12 month high of $35.88. The company has a market cap of $1.91 billion, a PE ratio of 21.19 and a beta of 1.71.
Dominion Midstream Partners (NYSE:DM) last posted its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 earned $85.60 million during the quarter, compared to analysts’ expectations of $93.83 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was down 18.8% compared to the same quarter last year. On average, equities research analysts predict that Dominion Midstream Partners will post $1.17 earnings per share for the current year.
In other Dominion Midstream Partners news, Director Dominion Resources Inc /Va/ bought 28,372 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were bought at an average price of $25.13 per share, for a total transaction of $712,988.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.17% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Simplex Trading LLC purchased a new stake in shares of Dominion Midstream Partners during the second quarter worth about $100,000. US Bancorp DE raised its stake in shares of Dominion Midstream Partners by 4.4% in the second quarter. US Bancorp DE now owns 3,864 shares of the company’s stock worth $109,000 after buying an additional 164 shares during the period. Global X Management Co. LLC purchased a new stake in shares of Dominion Midstream Partners during the second quarter worth about $170,000. Linscomb & Williams Inc. raised its stake in shares of Dominion Midstream Partners by 2.6% in the second quarter. Linscomb & Williams Inc. now owns 8,120 shares of the company’s stock worth $228,000 after buying an additional 207 shares during the period. Finally, Commonwealth Equity Services Inc raised its stake in shares of Dominion Midstream Partners by 4.3% in the second quarter. Commonwealth Equity Services Inc now owns 8,430 shares of the company’s stock worth $237,000 after buying an additional 351 shares during the period. 37.42% of the stock is currently owned by institutional investors and hedge funds.
Dominion Midstream Partners Company Profile
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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