Dominion Midstream Partners, LP (NYSE:DM) declared a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Stockholders of record on Monday, November 6th will be paid a dividend of 0.3025 per share by the pipeline company on Wednesday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, November 3rd. This is an increase from Dominion Midstream Partners,’s previous quarterly dividend of $0.29.
Dominion Midstream Partners, has a payout ratio of 98.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Dominion Midstream Partners, to earn $1.20 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 95.8%.
Dominion Midstream Partners, (NYSE:DM) opened at 32.10 on Friday. The stock has a 50 day moving average of $31.85 and a 200-day moving average of $29.47. Dominion Midstream Partners, has a one year low of $23.20 and a one year high of $34.85. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 23.69 and a beta of 1.70.
Dominion Midstream Partners, (NYSE:DM) last released its earnings results on Wednesday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). Dominion Midstream Partners, had a return on equity of 1.82% and a net margin of 19.08%. The company had revenue of $115.70 million during the quarter, compared to analysts’ expectations of $130.04 million. During the same period last year, the firm posted $0.28 EPS. Dominion Midstream Partners,’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, equities analysts predict that Dominion Midstream Partners, will post $1.28 EPS for the current fiscal year.
Several equities analysts have recently commented on DM shares. Zacks Investment Research raised shares of Dominion Midstream Partners, from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a report on Tuesday, July 4th. BidaskClub downgraded shares of Dominion Midstream Partners, from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Barclays PLC downgraded shares of Dominion Midstream Partners, from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $37.00 to $32.00 in a report on Tuesday, July 18th. 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. Finally, Stifel Nicolaus set a $33.00 target price on shares of Dominion Midstream Partners, and gave the stock a “buy” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Dominion Midstream Partners, has a consensus rating of “Buy” and a consensus target price of $34.89.
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.
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