Dominion Midstream Partners, LP (NYSE:DM) Position Boosted by Bank of America Corp DE

Bank of America Corp DE boosted its stake in shares of Dominion Midstream Partners, LP (NYSE:DM) by 12.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 252,293 shares of the pipeline company’s stock after buying an additional 28,118 shares during the period. Bank of America Corp DE owned about 0.25% of Dominion Midstream Partners, worth $8,061,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA purchased a new position in Dominion Midstream Partners, during the first quarter valued at about $137,000. Advisory Services Network LLC purchased a new position in Dominion Midstream Partners, during the first quarter valued at about $187,000. Keybank National Association OH purchased a new position in Dominion Midstream Partners, during the first quarter valued at about $243,000. Hollencrest Securities LLC purchased a new position in Dominion Midstream Partners, during the first quarter valued at about $300,000. Finally, Linscomb & Williams Inc. raised its stake in shares of Dominion Midstream Partners, by 26.8% in the first quarter. Linscomb & Williams Inc. now owns 13,144 shares of the pipeline company’s stock valued at $420,000 after buying an additional 2,782 shares during the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.

Shares of Dominion Midstream Partners, LP (NYSE:DM) opened at 26.85 on Friday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 19.82 and a beta of 1.67. Dominion Midstream Partners, LP has a one year low of $23.17 and a one year high of $33.70. The company has a 50 day moving average of $27.67 and a 200-day moving average of $30.01.

Dominion Midstream Partners, (NYSE:DM) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.04. The company 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%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. On average, analysts anticipate that Dominion Midstream Partners, LP will post $1.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, August 4th will be given a dividend of $0.288 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Wednesday, August 2nd. This is a boost from Dominion Midstream Partners,’s previous quarterly dividend of $0.27. Dominion Midstream Partners,’s dividend payout ratio (DPR) is currently 84.56%.

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Several equities research analysts recently commented on the stock. BidaskClub lowered shares of Dominion Midstream Partners, from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Scotiabank reissued a “buy” rating and issued a $35.00 price target on shares of Dominion Midstream Partners, in a report on Thursday, April 27th. Zacks Investment Research lowered shares of Dominion Midstream Partners, from a “hold” rating to a “strong sell” rating in a report on Friday, August 4th. Stifel Nicolaus set a $33.00 price target on shares of Dominion Midstream Partners, and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $41.00 price target on shares of Dominion Midstream Partners, in a report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $33.78.

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.

Institutional Ownership by Quarter for Dominion Midstream Partners, (NYSE:DM)

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