Dominion Midstream Partners, LP (DM) Announces Quarterly Dividend of $0.29
Dominion Midstream Partners, LP (NYSE:DM) announced a quarterly dividend on Friday, July 21st, NASDAQ reports. Investors of record on Friday, August 4th will be paid a dividend of 0.288 per share by the pipeline company on Tuesday, August 15th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a boost from Dominion Midstream Partners,’s previous quarterly dividend of $0.27.
Dominion Midstream Partners, has a dividend payout ratio of 80.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Dominion Midstream Partners, to earn $1.74 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 66.1%.
Shares of Dominion Midstream Partners, (NYSE DM) traded up 0.639% during mid-day trading on Friday, hitting $27.575. 3,475 shares of the company were exchanged. The firm has a 50 day moving average of $27.87 and a 200 day moving average of $30.29. Dominion Midstream Partners, has a 12-month low of $23.17 and a 12-month high of $33.70. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 20.231 and a beta of 1.69.
Dominion Midstream Partners, (NYSE:DM) last announced its earnings results on Thursday, May 4th. The pipeline company reported $0.37 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. Dominion Midstream Partners, had a return on equity of 1.98% and a net margin of 20.43%. The business had revenue of $130.20 million for the quarter, compared to analysts’ expectations of $142.48 million. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue was up 56.9% on a year-over-year basis. Equities research analysts forecast that Dominion Midstream Partners, will post $1.42 earnings per share for the current year.
DM has been the topic of several analyst reports. Scotiabank set a $35.00 target price on Dominion Midstream Partners, and gave the company a “buy” rating in a report on Saturday, July 22nd. TheStreet cut Dominion Midstream Partners, from a “b-” rating to a “c” rating in a report 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 report on Monday, May 8th. Barclays PLC cut Dominion Midstream Partners, from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $37.00 to $32.00 in a report on Tuesday, July 18th. Finally, Tudor Pickering cut Dominion Midstream Partners, from a “buy” rating to a “hold” rating in a report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Dominion Midstream Partners, has an average rating of “Buy” and a consensus target price of $34.00.
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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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