Dominion Energy Midstream Partners (DM) Downgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research cut shares of Dominion Energy Midstream Partners (NYSE:DM) from a strong-buy rating to a hold rating in a report released on Monday morning.

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 equities analysts also recently commented on DM. ValuEngine downgraded Dominion Energy Midstream Partners from a hold rating to a sell rating in a report on Wednesday, January 2nd. Morgan Stanley increased their target price on Dominion Energy Midstream Partners from $17.00 to $18.00 and gave the company a hold rating in a research note on Friday, September 21st. Barclays set a $17.00 target price on Dominion Energy Midstream Partners and gave the company a hold rating in a research note on Friday, October 12th. Finally, Citigroup lowered Dominion Energy Midstream Partners from a buy rating to a neutral rating and set a $17.00 target price for the company. in a research note on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. Dominion Energy Midstream Partners has an average rating of Hold and a consensus price target of $21.80.

Shares of Dominion Energy Midstream Partners stock traded down $0.87 during trading hours on Monday, reaching $17.29. The stock had a trading volume of 336,383 shares, compared to its average volume of 1,677,167. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 12.81 and a beta of 1.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.24 and a quick ratio of 1.91. Dominion Energy Midstream Partners has a 1 year low of $12.55 and a 1 year high of $32.55.

Dominion Energy Midstream Partners (NYSE:DM) last released its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The firm had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $298.60 million. Dominion Energy Midstream Partners had a return on equity of 2.70% and a net margin of 21.93%. The business’s revenue for the quarter was up 151.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. Research analysts anticipate that Dominion Energy Midstream Partners will post 1.37 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, January 14th will be paid a dividend of $0.369 per share. The ex-dividend date of this dividend is Friday, January 11th. This represents a $1.48 dividend on an annualized basis and a yield of 8.54%. Dominion Energy Midstream Partners’s dividend payout ratio (DPR) is presently 109.63%.

In other news, CEO Diane Leopold sold 2,500 shares of Dominion Energy Midstream Partners stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $19.22, for a total value of $48,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Carlos M. Brown sold 3,300 shares of Dominion Energy Midstream Partners stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $19.14, for a total value of $63,162.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,600 shares of company stock valued at $434,108. 11.17% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of DM. Neuberger Berman Group LLC lifted its holdings in shares of Dominion Energy Midstream Partners by 37.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 7,902,512 shares of the pipeline company’s stock worth $141,455,000 after purchasing an additional 2,133,922 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Dominion Energy Midstream Partners by 16.5% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 6,380,140 shares of the pipeline company’s stock worth $117,665,000 after purchasing an additional 904,313 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Dominion Energy Midstream Partners by 72.5% in the 3rd quarter. Morgan Stanley now owns 2,105,227 shares of the pipeline company’s stock worth $37,683,000 after purchasing an additional 885,086 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Dominion Energy Midstream Partners by 9.1% in the 3rd quarter. Clearbridge Investments LLC now owns 1,625,250 shares of the pipeline company’s stock worth $29,092,000 after purchasing an additional 136,000 shares during the last quarter. Finally, Brookfield Asset Management Inc. lifted its holdings in shares of Dominion Energy Midstream Partners by 8.4% in the 3rd quarter. Brookfield Asset Management Inc. now owns 1,491,548 shares of the pipeline company’s stock worth $26,699,000 after purchasing an additional 115,026 shares during the last quarter. Institutional investors own 30.85% of the company’s stock.

About Dominion Energy Midstream Partners

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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