Dominion Energy Midstream Partners LP (NYSE:DM) shares fell 5.4% during mid-day trading on Friday after Morgan Stanley lowered their price target on the stock from $32.00 to $31.00. Morgan Stanley currently has an underweight rating on the stock. Dominion Energy Midstream Partners traded as low as $22.70 and last traded at $22.75. 638,279 shares were traded during trading, an increase of 134% from the average session volume of 273,291 shares. The stock had previously closed at $24.05.
A number of other analysts also recently weighed in on the stock. Wolfe Research downgraded shares of Dominion Energy Midstream Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Dominion Energy Midstream Partners from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 6th. UBS Group reaffirmed a “buy” rating and issued a $36.00 target price (down from $39.00) on shares of Dominion Energy Midstream Partners in a research report on Friday, March 2nd. Zacks Investment Research downgraded shares of Dominion Energy Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Wells Fargo & Co upped their target price on shares of Dominion Energy Midstream Partners from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.18.
In related news, major shareholder Grid Plc National sold 6,783,373 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $25.26, for a total value of $171,348,001.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.17% of the company’s stock.
The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 0.12. The company has a market cap of $2,310.00, a P/E ratio of 15.36, a PEG ratio of 1.27 and a beta of 1.60.
Dominion Energy Midstream Partners (NYSE:DM) last posted its earnings results on Monday, January 29th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.05). The company had revenue of $121.30 million for the quarter, compared to the consensus estimate of $109.15 million. Dominion Energy Midstream Partners had a net margin of 25.34% and a return on equity of 2.07%. Dominion Energy Midstream Partners’s revenue was down 31.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. research analysts expect that Dominion Energy Midstream Partners LP will post 1.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a dividend of $0.318 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.27 annualized dividend and a yield of 5.58%. This is a boost from Dominion Energy Midstream Partners’s previous quarterly dividend of $0.30. Dominion Energy Midstream Partners’s dividend payout ratio is currently 84.11%.
ILLEGAL ACTIVITY NOTICE: “Dominion Energy Midstream Partners (DM) Trading Down 5.4% After Analyst Downgrade” was originally reported by Week Herald and is the property of of Week Herald. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://weekherald.com/2018/03/16/dominion-energy-midstream-partners-dm-trading-down-5-4-after-analyst-downgrade.html.
About Dominion Energy 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.
Receive News & Ratings for Dominion Energy Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dominion Energy Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.