Dominion Midstream Partners, LP (DM) Sees Strong Trading Volume

Dominion Midstream Partners, LP (NYSE:DM) shares saw unusually-strong trading volume on Friday . Approximately 1,123,773 shares were traded during trading, an increase of 612% from the previous session’s volume of 157,727 shares.The stock last traded at $29.65 and had previously closed at $28.30.

A number of equities research analysts have issued reports on DM shares. BidaskClub upgraded shares of Dominion Midstream Partners, from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Morgan Stanley upgraded shares of Dominion Midstream Partners, from an “equal weight” rating to an “overweight” rating and set a $32.00 target price on the stock in a report on Wednesday, August 30th. Scotiabank set a $35.00 target price on shares of Dominion Midstream Partners, and gave the stock a “buy” rating in a report on Saturday, July 22nd. TheStreet lowered shares of Dominion Midstream Partners, from a “b-” rating to a “c” rating in a report on Wednesday, May 31st. Finally, Barclays PLC lowered shares of Dominion Midstream Partners, from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $37.00 to $32.00 in a report on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $34.00.

The firm’s 50 day moving average price is $27.20 and its 200 day moving average price is $29.33. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 21.88 and a beta of 1.66.

Dominion Midstream Partners, (NYSE:DM) last released its quarterly earnings data 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 business had revenue of $115.70 million for the quarter, compared to analysts’ expectations of $130.04 million. Dominion Midstream Partners, had a return on equity of 1.82% and a net margin of 19.08%. Dominion Midstream Partners,’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Equities research analysts anticipate that Dominion Midstream Partners, LP will post $1.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, August 4th were paid a $0.288 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This is an increase from Dominion Midstream Partners,’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a dividend yield of 3.89%. Dominion Midstream Partners,’s dividend payout ratio is 84.56%.

Hedge funds have recently made changes to their positions in the company. Mariner Investment Group LLC boosted its stake in shares of 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 purchasing an additional 87,900 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $1,157,000 after purchasing an additional 28,537 shares during the period. Endurance Wealth Management Inc. boosted its stake in shares of Dominion Midstream Partners, by 0.8% in the second quarter. Endurance Wealth Management Inc. now owns 215,718 shares of the pipeline company’s stock valued at $6,223,000 after purchasing an additional 1,812 shares during the period. Stifel Financial Corp boosted its stake in shares of Dominion Midstream Partners, by 0.9% in the first quarter. Stifel Financial Corp now owns 34,978 shares of the pipeline company’s stock valued at $1,116,000 after purchasing an additional 313 shares during the period. Finally, Tiedemann Wealth Management LLC purchased a new position in shares of Dominion Midstream Partners, in the first quarter valued at $3,263,000. Institutional investors and hedge funds own 55.61% of the company’s stock.

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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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