Dominion Energy Midstream Partners (DM) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Dominion Energy Midstream Partners (NYSE:DM) from a sell rating to a hold rating in a research report sent to investors on Monday.

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. “

DM has been the subject of a number of other research reports. Citigroup cut their price objective on shares of Dominion Energy Midstream Partners from $19.00 to $17.00 and set a buy rating for the company in a research report on Tuesday, May 1st. Barclays cut their price objective on shares of Dominion Energy Midstream Partners from $34.00 to $15.00 and set an equal weight rating for the company in a research report on Tuesday, April 17th. Stifel Nicolaus lowered shares of Dominion Energy Midstream Partners from a buy rating to a hold rating and cut their price objective for the company from $25.00 to $13.00 in a research report on Monday, April 30th. ValuEngine lowered shares of Dominion Energy Midstream Partners from a sell rating to a strong sell rating in a research report on Wednesday, May 2nd. Finally, Guggenheim lowered shares of Dominion Energy Midstream Partners from a buy rating to a neutral rating in a research report on Monday, April 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $24.75.

DM traded up $0.20 during midday trading on Monday, reaching $16.00. 15,189 shares of the company’s stock were exchanged, compared to its average volume of 1,573,712. The company has a current ratio of 1.42, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.02 billion, a P/E ratio of 11.81 and a beta of 1.95. Dominion Energy Midstream Partners has a 1-year low of $12.55 and a 1-year high of $34.85.

Dominion Energy Midstream Partners (NYSE:DM) last announced its earnings results on Wednesday, August 1st. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $247.60 million during the quarter, compared to analysts’ expectations of $291.16 million. Dominion Energy Midstream Partners had a net margin of 28.46% and a return on equity of 2.76%. The firm’s quarterly revenue was up 114.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share. analysts forecast that Dominion Energy Midstream Partners will post 1.49 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Monday, August 6th will be given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date is Friday, August 3rd. This is a positive change from Dominion Energy Midstream Partners’s previous quarterly dividend of $0.33. Dominion Energy Midstream Partners’s payout ratio is currently 103.70%.

A number of institutional investors have recently added to or reduced their stakes in DM. Brookfield Asset Management Inc. grew its holdings in Dominion Energy Midstream Partners by 2,049.5% in the first quarter. Brookfield Asset Management Inc. now owns 1,202,115 shares of the pipeline company’s stock valued at $18,452,000 after purchasing an additional 1,146,190 shares during the period. Summit Trail Advisors LLC grew its holdings in Dominion Energy Midstream Partners by 1,004.1% in the first quarter. Summit Trail Advisors LLC now owns 604,517 shares of the pipeline company’s stock valued at $605,000 after purchasing an additional 549,763 shares during the period. JPMorgan Chase & Co. grew its holdings in Dominion Energy Midstream Partners by 66.8% in the first quarter. JPMorgan Chase & Co. now owns 1,064,803 shares of the pipeline company’s stock valued at $16,345,000 after purchasing an additional 426,299 shares during the period. Alps Advisors Inc. grew its holdings in Dominion Energy Midstream Partners by 4.8% in the second quarter. Alps Advisors Inc. now owns 4,058,176 shares of the pipeline company’s stock valued at $123,571,000 after purchasing an additional 184,836 shares during the period. Finally, Infrastructure Capital Advisors LLC purchased a new stake in Dominion Energy Midstream Partners in the first quarter valued at approximately $2,737,000. Hedge funds and other institutional investors own 35.49% of the company’s stock.

Dominion Energy Midstream Partners Company Profile

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

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