Dominion Midstream Partners, LP (NYSE:DM) Upgraded by Zacks Investment Research to “Strong-Buy”

Dominion Midstream Partners, LP (NYSE:DM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, July 4th. The firm presently has a $33.00 target price on the pipeline company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 20.00% from the stock’s current price.

According to Zacks, “Dominion Energy Midstream Partners, LP is a Delaware limited partnership company. Its portfolio consist of natural gas terminaling, processing, storage, transportation and related assets. Dominion Energy Midstream Partners LP, formerly known as Dominion Midstream Partners LP, is headquartered in Richmond, Va. “

Other analysts also recently issued reports about the company. BidaskClub upgraded Dominion Midstream Partners, from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. TheStreet downgraded Dominion Midstream Partners, from a “b-” rating to a “c” rating in a research note on Wednesday, May 31st. Royal Bank Of Canada reiterated a “buy” rating and issued a $41.00 price target on shares of Dominion Midstream Partners, in a research note on Monday, May 8th. Scotiabank reiterated a “buy” rating and issued a $35.00 price target on shares of Dominion Midstream Partners, in a research note on Thursday, April 27th. Finally, Tudor Pickering downgraded Dominion Midstream Partners, from a “buy” rating to a “hold” rating in a research note on Monday, April 3rd. One investment 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. The stock presently has an average rating of “Buy” and a consensus target price of $34.00.

Shares of Dominion Midstream Partners, (NYSE DM) opened at 27.50 on Tuesday. Dominion Midstream Partners, has a one year low of $23.17 and a one year high of $33.70. The firm has a 50 day moving average price of $27.86 and a 200 day moving average price of $30.26. The stock has a market capitalization of $2.73 billion, a PE ratio of 20.18 and a beta of 1.69.

Dominion Midstream Partners, (NYSE:DM) last issued its earnings results on Thursday, May 4th. The pipeline company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $130.20 million for the quarter, compared to analyst estimates of $142.48 million. Dominion Midstream Partners, had a return on equity of 1.98% and a net margin of 20.43%. The business’s quarterly revenue was up 56.9% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. Analysts predict that Dominion Midstream Partners, will post $1.42 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of DM. State of New Jersey Common Pension Fund D raised its position in Dominion Midstream Partners, by 57.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 87,500 shares of the pipeline company’s stock valued at $2,524,000 after buying an additional 31,900 shares during the period. Mariner Investment Group LLC raised its position in Dominion Midstream Partners, by 460.2% in the second quarter. Mariner Investment Group LLC now owns 107,000 shares of the pipeline company’s stock valued at $3,087,000 after buying an additional 87,900 shares during the period. Janney Montgomery Scott LLC raised its position in 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 during the period. Cutler Capital Management LLC boosted its position in 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 during the last quarter. Finally, Diversified Trust Co boosted its position in 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 during the last quarter. Hedge funds and other institutional investors own 56.56% of the company’s stock.

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

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