Mariner Investment Group LLC increased its position in Dominion Midstream Partners, LP (NYSE:DM) by 460.2% during the second quarter, Holdings Channel reports. The fund owned 107,000 shares of the pipeline company’s stock after buying an additional 87,900 shares during the period. Dominion Midstream Partners, accounts for approximately 1.7% of Mariner Investment Group LLC’s portfolio, making the stock its 19th largest position. Mariner Investment Group LLC’s holdings in Dominion Midstream Partners, were worth $3,087,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of DM. Stifel Financial Corp raised its position in shares of 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. Diversified Trust Co raised its position in shares of Dominion Midstream Partners, by 1.5% in the second quarter. Diversified Trust Co now owns 25,836 shares of the pipeline company’s stock worth $745,000 after buying an additional 381 shares during the period. Cutler Capital Management LLC raised its position in shares of 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. Linscomb & Williams Inc. raised its position in shares of Dominion Midstream Partners, by 26.8% in the first quarter. Linscomb & Williams Inc. now owns 13,144 shares of the pipeline company’s stock worth $420,000 after buying an additional 2,782 shares during the period. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Dominion Midstream Partners, during the first quarter worth about $137,000. Hedge funds and other institutional investors own 56.56% of the company’s stock.
Shares of Dominion Midstream Partners, LP (NYSE DM) opened at 28.00 on Tuesday. Dominion Midstream Partners, LP has a one year low of $23.17 and a one year high of $33.70. The stock has a 50 day moving average price of $27.84 and a 200 day moving average price of $30.25. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 20.54 and a beta of 1.69.
Dominion Midstream Partners, (NYSE:DM) last released its quarterly earnings results on Thursday, May 4th. The pipeline company reported $0.37 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.37. Dominion Midstream Partners, had a return on equity of 1.98% and a net margin of 20.43%. The firm had revenue of $130.20 million during the quarter, compared to analysts’ expectations of $142.48 million. During the same period last year, the firm posted $0.29 EPS. The business’s revenue was up 56.9% on a year-over-year basis. On average, equities research analysts forecast that Dominion Midstream Partners, LP will post $1.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, August 4th will be issued a dividend of $0.288 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.11%. This is a boost from Dominion Midstream Partners,’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 2nd. Dominion Midstream Partners,’s dividend payout ratio (DPR) is currently 82.71%.
COPYRIGHT VIOLATION WARNING: “Mariner Investment Group LLC Buys 87,900 Shares of Dominion Midstream Partners, LP (DM)” was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://stocknewstimes.com/2017/08/01/mariner-investment-group-llc-buys-87900-shares-of-dominion-midstream-partners-lp-dm.html.
DM has been the subject of a number of analyst reports. Scotiabank set a $35.00 price target on Dominion Midstream Partners, and gave the stock a “buy” rating in a research report on Saturday, July 22nd. TheStreet lowered Dominion Midstream Partners, from a “b-” rating to a “c” rating in a research report on Wednesday, May 31st. Royal Bank Of Canada reiterated a “buy” rating and set a $41.00 price target on shares of Dominion Midstream Partners, in a research report on Monday, May 8th. Barclays PLC lowered Dominion Midstream Partners, from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $37.00 to $32.00 in a research report on Tuesday, July 18th. Finally, Tudor Pickering lowered Dominion Midstream Partners, from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Dominion Midstream Partners, currently has a consensus rating of “Buy” and a consensus price target of $34.00.
Dominion Midstream Partners, Company Profile
Dominion Energy Midstream Partners, LP, formerly 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.
Want to see what other hedge funds are holding DM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dominion Midstream Partners, LP (NYSE:DM).
Receive News & Ratings for Dominion Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dominion Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.
