Zacks Investment Research upgraded shares of Dominion Energy Midstream Partners (NYSE:DM) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning. The brokerage currently has $20.00 target price on the pipeline company’s stock.
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 equities analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their price target on shares of Dominion Energy Midstream Partners from $13.00 to $15.00 and gave the stock a hold rating in a research note on Monday, July 9th. Barclays set a $17.00 price target on shares of Dominion Energy Midstream Partners and gave the stock a hold rating in a research note on Friday, October 12th. Morgan Stanley upped their price target on shares of Dominion Energy Midstream Partners from $17.00 to $18.00 and gave the stock a hold rating in a research note on Friday, September 21st. Finally, Citigroup cut shares of Dominion Energy Midstream Partners from a buy rating to a neutral rating and set a $17.00 price target on the stock. in a research note on Thursday, September 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $21.70.
Shares of NYSE:DM traded up $0.05 during midday trading on Monday, reaching $17.35. The company’s stock had a trading volume of 19,270 shares, compared to its average volume of 762,613. The company has a market capitalization of $2.19 billion, a PE ratio of 12.82 and a beta of 1.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.42 and a quick ratio of 1.24. Dominion Energy Midstream Partners has a 12-month low of $12.55 and a 12-month high of $32.95.
Dominion Energy Midstream Partners (NYSE:DM) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.04). The firm had revenue of $284.20 million during the quarter, compared to the consensus estimate of $298.60 million. Dominion Energy Midstream Partners had a return on equity of 2.71% and a net margin of 21.93%. The business’s revenue for the quarter was up 151.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. Equities analysts anticipate that Dominion Energy Midstream Partners will post 1.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 5th will be paid a dividend of $0.369 per share. The ex-dividend date is Friday, November 2nd. This represents a $1.48 annualized dividend and a yield of 8.51%. This is a boost from Dominion Energy Midstream Partners’s previous quarterly dividend of $0.35. Dominion Energy Midstream Partners’s dividend payout ratio is currently 109.63%.
A number of institutional investors and hedge funds have recently bought and sold shares of DM. Commonwealth Equity Services LLC bought a new position in Dominion Energy Midstream Partners during the 2nd quarter valued at about $150,000. Tower Research Capital LLC TRC bought a new position in Dominion Energy Midstream Partners during the 2nd quarter valued at about $194,000. Lake Street Advisors Group LLC bought a new position in Dominion Energy Midstream Partners during the 2nd quarter valued at about $228,000. Capital Investment Advisory Services LLC lifted its stake in Dominion Energy Midstream Partners by 50.0% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 16,118 shares of the pipeline company’s stock valued at $289,000 after acquiring an additional 5,376 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Dominion Energy Midstream Partners during the 2nd quarter valued at about $381,000. Institutional investors and hedge funds own 27.57% of the company’s stock.
About Dominion Energy Midstream Partners
Dominion Energy Midstream Partners, LP owns liquefied natural gas (LNG) terminalling, storage, regasification, and transportation assets. It owns and operates LNG terminalling and storage facility located on the Chesapeake Bay in Lusby, Maryland. The company also operates an interstate pipeline in South Carolina and southeastern Georgia comprising natural gas system consisting of approximately 1,500 miles of transmission pipeline and 5 compressor stations with approximately 34,500 installed compressor horsepower.
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