Bank of America Corp DE increased its position in Dominion Midstream Partners, LP (NYSE:DM) by 12.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 approximately 0.25% of Dominion Midstream Partners, worth $8,061,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new position in Dominion Midstream Partners, during the first quarter valued at approximately $137,000. Advisory Services Network LLC acquired a new stake in shares of Dominion Midstream Partners, during the first quarter valued at about $187,000. Keybank National Association OH acquired a new stake in shares of Dominion Midstream Partners, during the first quarter valued at about $243,000. Hollencrest Securities LLC acquired a new stake in shares of Dominion Midstream Partners, during the first quarter valued at about $300,000. Finally, Linscomb & Williams Inc. increased 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 in the last quarter. 58.39% of the stock is currently owned by hedge funds and other institutional investors.
Dominion Midstream Partners, LP (DM) traded up 2.14% during mid-day trading on Friday, reaching $26.25. 99,638 shares of the company’s stock were exchanged. Dominion Midstream Partners, LP has a 12 month low of $23.17 and a 12 month high of $33.70. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 19.37 and a beta of 1.67. The stock has a 50-day moving average of $27.37 and a 200-day moving average of $29.81.
Dominion Midstream Partners, (NYSE:DM) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The company had revenue of $115.70 million for the quarter, compared to the consensus estimate of $130.04 million. Dominion Midstream Partners, had a net margin of 19.08% and a return on equity of 1.82%. Dominion Midstream Partners,’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. Analysts anticipate that Dominion Midstream Partners, LP will post $1.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, August 4th were paid a dividend of $0.288 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.15 annualized dividend and a yield of 4.39%. This is a boost from Dominion Midstream Partners,’s previous quarterly dividend of $0.27. Dominion Midstream Partners,’s dividend payout ratio is currently 84.56%.
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Several equities research analysts have recently issued reports on DM shares. Scotiabank set a $35.00 price target on Dominion Midstream Partners, and gave the company a “buy” rating in a research report on Saturday, July 22nd. TheStreet cut shares of Dominion Midstream Partners, from a “b-” rating to a “c” rating in a research note on Wednesday, May 31st. Royal Bank Of Canada reiterated a “buy” rating and issued a $41.00 target price on shares of Dominion Midstream Partners, in a research note on Monday, May 8th. Barclays PLC cut shares of Dominion Midstream Partners, from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $37.00 to $32.00 in a research note on Tuesday, July 18th. Finally, Zacks Investment Research upgraded shares of Dominion Midstream Partners, from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $34.25.
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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