Dominion Midstream Partners LP (NYSE:DM) – Stock analysts at DA Davidson cut their FY2016 EPS estimates for shares of Dominion Midstream Partners in a research note issued to investors on Monday. DA Davidson analyst P. Fratt now anticipates that the brokerage will earn $1.14 per share for the year, down from their prior estimate of $1.16. DA Davidson also issued estimates for Dominion Midstream Partners’ Q1 2017 earnings at $0.43 EPS, Q2 2017 earnings at $0.42 EPS, Q3 2017 earnings at $0.42 EPS, Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $1.68 EPS and FY2018 earnings at $3.38 EPS.
Several other brokerages also recently weighed in on DM. Wolfe Research started coverage on Dominion Midstream Partners in a report on Friday, October 7th. They set a “buy” rating and a $28.00 price target on the stock. Bank of America Corp. upgraded Dominion Midstream Partners from a “neutral” rating to a “buy” rating in a report on Tuesday, November 1st. They noted that the move was a valuation call. Mizuho initiated coverage on Dominion Midstream Partners in a report on Thursday, September 29th. They issued a “buy” rating and a $30.00 target price on the stock. Zacks Investment Research upgraded Dominion Midstream Partners from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, October 11th. Finally, Morgan Stanley cut Dominion Midstream Partners from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $40.00 to $30.00 in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $29.50.
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Dominion Midstream Partners (NYSE:DM) last announced its quarterly earnings data on Monday, October 31st. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. Dominion Midstream Partners had a return on equity of 1.83% and a net margin of 22.24%. The firm earned $85 million during the quarter, compared to analysts’ expectations of $90.84 million. During the same period last year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was down 17.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, November 4th were given a dividend of $0.2475 per share. This represents a $0.99 dividend on an annualized basis and a dividend yield of 3.62%. This is a positive change from Dominion Midstream Partners’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, November 2nd.
In other Dominion Midstream Partners news, Director Dominion Resources Inc /Va/ bought 56,744 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were acquired at an average cost of $25.04 per share, with a total value of $1,420,869.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.17% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “FY2016 EPS Estimates for Dominion Midstream Partners LP Cut by DA Davidson (DM)” was first posted by American Market News and is owned by of American Market News. If you are accessing this report on another publication, it was stolen and republished in violation of U.S. & international copyright & trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2016/12/14/fy2016-eps-estimates-for-dominion-midstream-partners-lp-cut-by-da-davidson-dm.html.
Institutional investors have recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. increased its position in shares of Dominion Midstream Partners by 2.2% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 2,861,093 shares of the company’s stock valued at $80,483,000 after buying an additional 61,986 shares in the last quarter. Center Coast Capital Advisors LP increased its position in shares of Dominion Midstream Partners by 18.0% in the third quarter. Center Coast Capital Advisors LP now owns 948,728 shares of the company’s stock valued at $22,684,000 after buying an additional 144,403 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Dominion Midstream Partners by 1,148.1% in the third quarter. Neuberger Berman Group LLC now owns 499,247 shares of the company’s stock valued at $11,937,000 after buying an additional 459,247 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of Dominion Midstream Partners by 11.1% in the second quarter. Duff & Phelps Investment Management Co. now owns 401,100 shares of the company’s stock valued at $11,283,000 after buying an additional 40,000 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Dominion Midstream Partners by 4.3% in the second quarter. Westwood Holdings Group Inc. now owns 395,664 shares of the company’s stock valued at $11,130,000 after buying an additional 16,230 shares in the last quarter. Institutional investors and hedge funds own 25.90% of the company’s stock.
About Dominion Midstream Partners
Dominion Midstream Partners, LP owns the preferred equity interests and the general partner interest of Dominion Cove Point LNG, LP (Cove Point). Cove Point owns liquefied natural gas (LNG) import, storage, regasification and transportation assets. The Company’s segment is Dominion Energy, which consists of gas transportation, LNG import and storage.
