Dominion Midstream Partners, LP (NYSE:DM) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Dominion Midstream Partners, LP (NYSE:DM) from a strong sell rating to a sell rating in a research note released on Friday, June 30th.

DM has been the subject of a number of other research reports. TheStreet upgraded Dominion Midstream Partners, from a c+ rating to a b- rating in a research report on Thursday, March 23rd. Royal Bank Of Canada reiterated a buy rating and set a $41.00 price objective on shares of Dominion Midstream Partners, in a research report on Monday, May 8th. Scotiabank reiterated a buy rating and set a $35.00 price objective on shares of Dominion Midstream Partners, in a research report on Thursday, April 27th. Tudor Pickering cut Dominion Midstream Partners, from a buy rating to a hold rating in a research report on Monday, April 3rd. Finally, Zacks Investment Research cut Dominion Midstream Partners, from a hold rating to a sell rating in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $34.00.

Dominion Midstream Partners, (NYSE DM) traded up 0.36% during trading on Friday, hitting $27.50. The company’s stock had a trading volume of 81,102 shares. The firm has a market cap of $2.73 billion, a P/E ratio of 20.18 and a beta of 1.69. Dominion Midstream Partners, has a 12 month low of $23.17 and a 12 month high of $33.70. The firm has a 50 day moving average of $27.86 and a 200 day moving average of $30.26.

Dominion Midstream Partners, (NYSE:DM) last posted its quarterly earnings results on Thursday, May 4th. The pipeline company reported $0.37 earnings per share for the quarter, hitting the Thomson Reuters’ 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 quarter in the previous year, the business earned $0.29 earnings per share. The company’s revenue was up 56.9% on a year-over-year basis. Equities research analysts predict that Dominion Midstream Partners, will post $1.42 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.288 per share. This represents a $1.15 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a positive change from Dominion Midstream Partners,’s previous quarterly dividend of $0.27. Dominion Midstream Partners,’s payout ratio is currently 82.71%.

Several institutional investors have recently added to or reduced their stakes in the company. Keybank National Association OH acquired a new position in Dominion Midstream Partners, during the first quarter worth $243,000. Center Coast Capital Advisors LP raised its position in Dominion Midstream Partners, by 3.5% in the first quarter. Center Coast Capital Advisors LP now owns 892,093 shares of the pipeline company’s stock worth $28,502,000 after buying an additional 30,076 shares during the period. Wills Financial Group Inc. raised its position in Dominion Midstream Partners, by 67.8% in the first quarter. Wills Financial Group Inc. now owns 51,280 shares of the pipeline company’s stock worth $1,638,000 after buying an additional 20,719 shares during the period. BNP Paribas Arbitrage SA acquired a new position in Dominion Midstream Partners, during the first quarter worth $137,000. Finally, Bank of New York Mellon Corp raised its position in Dominion Midstream Partners, by 371.4% in the first quarter. Bank of New York Mellon Corp now owns 36,221 shares of the pipeline company’s stock worth $1,157,000 after buying an additional 28,537 shares during the period. 56.56% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Dominion Midstream Partners, (NYSE:DM)

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