Dominion Midstream Partners, LP (NYSE:DM) posted its earnings results on Wednesday. The pipeline company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.04, Morningstar.com reports. The business had revenue of $115.70 million during the quarter, compared to the consensus estimate of $130.04 million. Dominion Midstream Partners, had a return on equity of 1.98% and a net margin of 20.43%. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS.
Shares of Dominion Midstream Partners, (NYSE DM) traded up 0.55% during midday trading on Thursday, reaching $27.35. The company’s stock had a trading volume of 59,727 shares. Dominion Midstream Partners, has a one year low of $23.17 and a one year high of $33.70. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 20.07 and a beta of 1.67. The stock’s 50 day moving average price is $27.84 and its 200 day moving average price is $30.24.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, August 4th will be given a $0.288 dividend. This is an increase from Dominion Midstream Partners,’s previous quarterly dividend of $0.27. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Wednesday, August 2nd. Dominion Midstream Partners,’s payout ratio is currently 82.71%.
A number of analysts have commented on DM shares. Stifel Nicolaus set a $33.00 target price on Dominion Midstream Partners, and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research lowered Dominion Midstream Partners, from a “strong-buy” rating to a “hold” rating in a report on Friday, July 21st. Barclays PLC lowered Dominion Midstream Partners, from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $37.00 to $32.00 in a report on Tuesday, July 18th. BidaskClub raised Dominion Midstream Partners, from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Finally, TheStreet lowered Dominion Midstream Partners, from a “b-” rating to a “c” rating in a report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $33.78.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DM. Spirit of America Management Corp NY raised its position in Dominion Midstream Partners, by 15.0% in the first quarter. Spirit of America Management Corp NY now owns 596,699 shares of the pipeline company’s stock worth $19,065,000 after buying an additional 78,050 shares during the period. Cutler Capital Management LLC raised its position in 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. Hollencrest Securities LLC acquired a new position in Dominion Midstream Partners, during the first quarter worth $300,000. Chickasaw Capital Management LLC raised its position in Dominion Midstream Partners, by 61.4% in the first quarter. Chickasaw Capital Management LLC now owns 5,494,455 shares of the pipeline company’s stock worth $175,548,000 after buying an additional 2,089,830 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in Dominion Midstream Partners, by 92.8% in the first quarter. State of New Jersey Common Pension Fund D now owns 55,600 shares of the pipeline company’s stock worth $1,776,000 after buying an additional 26,760 shares during the period. 56.56% of the stock is currently owned by institutional investors and hedge funds.
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About Dominion Midstream Partners,
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.
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