Dominion Energy Midstream Partners LP (NYSE:DM) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,820,480 shares, an increase of 87.8% from the September 28th total of 969,394 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average daily trading volume, of 898,871 shares, the days-to-cover ratio is presently 2.0 days.
Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new position in shares of Dominion Energy Midstream Partners during the 2nd quarter worth approximately $150,000. Tower Research Capital LLC TRC bought a new stake in Dominion Energy Midstream Partners in the 2nd quarter valued at $194,000. Lake Street Advisors Group LLC bought a new stake in Dominion Energy Midstream Partners in the 2nd quarter valued at $228,000. Capital Investment Advisory Services LLC boosted its stake in Dominion Energy Midstream Partners by 50.0% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 16,118 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 5,376 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Dominion Energy Midstream Partners in the 2nd quarter valued at $381,000. Institutional investors own 27.59% of the company’s stock.
DM has been the topic of a number of recent research reports. Zacks Investment Research raised Dominion Energy Midstream Partners from a “strong sell” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, July 4th. Stifel Nicolaus lifted their target price on Dominion Energy Midstream Partners from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Monday, July 9th. Barclays set a $17.00 price target on Dominion Energy Midstream Partners and gave the stock a “hold” rating in a research report on Friday, October 12th. Morgan Stanley boosted their price target on Dominion Energy Midstream Partners from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, September 21st. Finally, Citigroup lowered 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 report on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.20.
Dominion Energy Midstream Partners (NYSE:DM) last issued its earnings results on Wednesday, August 1st. The pipeline company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.07. Dominion Energy Midstream Partners had a return on equity of 2.76% and a net margin of 28.46%. The company had revenue of $247.60 million during the quarter, compared to the consensus estimate of $291.16 million. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 114.0% compared to the same quarter last year. Research analysts forecast that Dominion Energy Midstream Partners will post 1.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.369 per share. This is an increase from Dominion Energy Midstream Partners’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 8.15%. The ex-dividend date is Friday, November 2nd. Dominion Energy Midstream Partners’s payout ratio is currently 103.70%.
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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