Mariner Investment Group LLC increased its stake in shares of Dominion Midstream Partners, LP (NYSE:DM) by 460.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,000 shares of the pipeline company’s stock after buying an additional 87,900 shares during the period. Dominion Midstream Partners, makes up approximately 1.7% of Mariner Investment Group LLC’s investment portfolio, making the stock its 19th largest position. Mariner Investment Group LLC owned 0.11% of Dominion Midstream Partners, worth $3,087,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in shares of Dominion Midstream Partners, by 12.1% in the second quarter. Janney Montgomery Scott LLC now owns 47,975 shares of the pipeline company’s stock valued at $1,384,000 after buying an additional 5,162 shares in the last quarter. Cutler Capital Management LLC increased its stake in shares of Dominion Midstream Partners, by 144.0% in the second quarter. Cutler Capital Management LLC now owns 61,000 shares of the pipeline company’s stock valued at $1,760,000 after buying an additional 36,000 shares in the last quarter. Diversified Trust Co increased its stake 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 valued at $745,000 after buying an additional 381 shares in the last quarter. Spirit of America Management Corp NY increased its stake in shares of Dominion Midstream Partners, by 12.6% in the second quarter. Spirit of America Management Corp NY now owns 672,099 shares of the pipeline company’s stock valued at $19,390,000 after buying an additional 75,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Dominion Midstream Partners, by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 940,838 shares of the pipeline company’s stock valued at $30,059,000 after buying an additional 182,208 shares in the last quarter. 58.39% of the stock is owned by institutional investors and hedge funds.
Dominion Midstream Partners, LP (NYSE:DM) opened at 26.25 on Friday. Dominion Midstream Partners, LP has a 12 month low of $23.17 and a 12 month high of $33.70. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 19.37 and a beta of 1.67. The firm has a 50-day moving average price of $27.37 and a 200 day moving average price of $29.81.
Dominion Midstream Partners, (NYSE:DM) last issued its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.04. The company had revenue of $115.70 million during the quarter, compared to the consensus estimate of $130.04 million. Dominion Midstream Partners, had a net margin of 19.08% and a return on equity of 1.82%. The company’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. On average, equities analysts forecast that Dominion Midstream Partners, LP will post $1.48 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, August 4th were paid a $0.288 dividend. This is a boost from Dominion Midstream Partners,’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Wednesday, August 2nd. Dominion Midstream Partners,’s payout ratio is 84.56%.
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Several brokerages have recently commented on DM. Zacks Investment Research raised Dominion Midstream Partners, from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Dominion Midstream Partners, from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Stifel Nicolaus set a $33.00 price target on Dominion Midstream Partners, and gave the company a “buy” rating in a research report on Thursday, August 3rd. Scotiabank set a $35.00 price target on Dominion Midstream Partners, and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, Barclays PLC lowered Dominion Midstream Partners, from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $37.00 to $32.00 in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $34.25.
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.
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