Dominion Midstream Partners, LP (DM) Raises Dividend to $0.30 Per Share
Dominion Midstream Partners, LP (NYSE:DM) declared a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Shareholders of record on Monday, November 6th will be given 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 yield of 3.65%. The ex-dividend date of this dividend is Friday, November 3rd. This is a positive change 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 decline. Equities research analysts expect Dominion Midstream Partners, to earn $1.44 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 79.9%.
Dominion Midstream Partners, (DM) traded up 1.69% during trading on Tuesday, reaching $33.15. The company’s stock had a trading volume of 145,752 shares. The company’s 50 day moving average price is $31.48 and its 200-day moving average price is $29.42. Dominion Midstream Partners, has a 1-year low of $23.20 and a 1-year high of $34.85. The stock has a market cap of $3.29 billion, a P/E ratio of 24.46 and a beta of 1.70.
Dominion Midstream Partners, (NYSE:DM) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $130.04 million. During the same period in the previous year, the company earned $0.28 earnings per share. Dominion Midstream Partners,’s quarterly revenue was up 35.2% on a year-over-year basis. Equities analysts forecast that Dominion Midstream Partners, will post $1.28 earnings per share for the current fiscal year.
DM has been the subject of a number of analyst reports. BidaskClub raised shares of Dominion Midstream Partners, from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Zacks Investment Research raised shares of Dominion Midstream Partners, from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a research report on Tuesday, July 4th. Barclays PLC downgraded shares of Dominion Midstream Partners, from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $37.00 to $32.00 in a research report on Tuesday, July 18th. Scotiabank set a $35.00 price target on shares of Dominion Midstream Partners, and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, Stifel Nicolaus set a $33.00 price target on shares of Dominion Midstream Partners, and gave the company a “buy” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $34.44.
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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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