Zacks Investment Research Downgrades Dominion Energy Midstream Partners (DM) to Sell

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Zacks Investment Research lowered shares of Dominion Energy Midstream Partners (NYSE:DM) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Dominion Energy Midstream Partners, LP is a Delaware limited partnership company. Its portfolio consist of natural gas terminaling, processing, storage, transportation and related assets. Dominion Energy Midstream Partners LP, formerly known as Dominion Midstream Partners LP, is headquartered in Richmond, Va. “

A number of other research firms have also issued reports on DM. Stifel Nicolaus reiterated a buy rating and set a $25.00 price objective (down from $35.00) on shares of Dominion Energy Midstream Partners in a research note on Monday, March 19th. UBS Group decreased their price objective on Dominion Energy Midstream Partners to $25.00 and set a buy rating on the stock in a research note on Monday, March 19th. Citigroup decreased their price objective on Dominion Energy Midstream Partners from $35.00 to $19.00 and set a buy rating on the stock in a research note on Tuesday, March 27th. Mizuho set a $20.00 price objective on Dominion Energy Midstream Partners and gave the company a hold rating in a research note on Monday, March 26th. Finally, ValuEngine lowered Dominion Energy Midstream Partners from a hold rating to a sell rating in a research note on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $24.75.

NYSE:DM opened at $16.85 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 0.93. Dominion Energy Midstream Partners has a 52-week low of $12.55 and a 52-week high of $34.85. The firm has a market cap of $1.36 billion, a P/E ratio of 12.48 and a beta of 1.88.

Dominion Energy Midstream Partners (NYSE:DM) last released its quarterly earnings data on Friday, April 27th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Dominion Energy Midstream Partners had a return on equity of 2.53% and a net margin of 33.01%. The company had revenue of $110.10 million for the quarter, compared to analyst estimates of $205.96 million. During the same period in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. research analysts forecast that Dominion Energy Midstream Partners will post 1.54 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Icon Wealth Partners LLC increased its stake in Dominion Energy Midstream Partners by 89.6% in the 1st quarter. Icon Wealth Partners LLC now owns 7,557 shares of the pipeline company’s stock worth $116,000 after acquiring an additional 3,571 shares during the last quarter. Jane Street Group LLC bought a new position in Dominion Energy Midstream Partners in the 4th quarter worth about $233,000. Global X Management Co. LLC increased its stake in Dominion Energy Midstream Partners by 25.4% in the 1st quarter. Global X Management Co. LLC now owns 33,357 shares of the pipeline company’s stock worth $512,000 after acquiring an additional 6,750 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Dominion Energy Midstream Partners in the 4th quarter worth about $1,066,000. Finally, Mariner LLC bought a new position in Dominion Energy Midstream Partners in the 1st quarter worth about $703,000. Institutional investors and hedge funds own 41.46% of the company’s stock.

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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