Dominion Energy Midstream Partners (DM) Cut to “Hold” at Zacks Investment Research

Dominion Energy Midstream Partners (NYSE:DM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Friday.

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. “

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Co increased their price target on Dominion Energy Midstream Partners from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. Royal Bank of Canada reissued a “hold” rating and issued a $35.00 price target on shares of Dominion Energy Midstream Partners in a research note on Tuesday, January 30th. Stifel Nicolaus assumed coverage on Dominion Energy Midstream Partners in a research note on Wednesday, January 17th. They issued a “buy” rating and a $35.00 price target for the company. JPMorgan Chase & Co. cut Dominion Energy Midstream Partners from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 14th. Finally, Morgan Stanley decreased their price target on Dominion Energy Midstream Partners from $33.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, November 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Dominion Energy Midstream Partners currently has an average rating of “Hold” and an average price target of $34.22.

Shares of Dominion Energy Midstream Partners (NYSE:DM) traded down $1.60 during mid-day trading on Friday, hitting $27.35. The stock had a trading volume of 588,443 shares, compared to its average volume of 213,734. The firm has a market capitalization of $2,880.00, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.29 and a beta of 1.50. The company has a current ratio of 0.47, a quick ratio of 0.41 and a debt-to-equity ratio of 0.08. Dominion Energy Midstream Partners has a 12 month low of $25.10 and a 12 month high of $34.85.

Dominion Energy Midstream Partners (NYSE:DM) last issued its quarterly earnings results on Monday, January 29th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.05). The company had revenue of $121.30 million during the quarter, compared to analyst estimates of $109.15 million. Dominion Energy Midstream Partners had a net margin of 25.34% and a return on equity of 2.10%. The company’s quarterly revenue was down 31.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. equities analysts forecast that Dominion Energy Midstream Partners will post 1.62 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership acquired a new stake in Dominion Energy Midstream Partners during the fourth quarter worth approximately $506,000. AMG Funds LLC acquired a new stake in Dominion Energy Midstream Partners during the fourth quarter worth approximately $541,000. California Public Employees Retirement System grew its stake in Dominion Energy Midstream Partners by 4.0% during the fourth quarter. California Public Employees Retirement System now owns 49,900 shares of the pipeline company’s stock worth $1,519,000 after purchasing an additional 1,900 shares during the period. River Road Asset Management LLC acquired a new stake in Dominion Energy Midstream Partners during the fourth quarter worth approximately $12,787,000. Finally, Cadence Capital Management LLC grew its stake in Dominion Energy Midstream Partners by 28.9% during the fourth quarter. Cadence Capital Management LLC now owns 214,160 shares of the pipeline company’s stock worth $6,521,000 after purchasing an additional 48,080 shares during the period. 57.58% of the stock is owned by institutional investors and hedge funds.

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Dominion Energy Midstream Partners Company Profile

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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