Dominion Energy Midstream Partners (DM) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Dominion Energy Midstream Partners (NYSE:DM) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning. The brokerage currently has $20.00 target price on the pipeline company’s stock.

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 research analysts have also recently issued reports on the stock. Morgan Stanley upped their price target on shares of Dominion Energy Midstream Partners from $17.00 to $18.00 and gave the company a hold rating in a report on Friday, September 21st. Citigroup cut shares of Dominion Energy Midstream Partners from a buy rating to a neutral rating and set a $17.00 price target for the company. in a report on Thursday, September 20th. Barclays set a $17.00 price target on shares of Dominion Energy Midstream Partners and gave the company a hold rating in a report on Friday, October 12th. Finally, Stifel Nicolaus upped their price target on shares of Dominion Energy Midstream Partners from $13.00 to $15.00 and gave the company a hold rating in a report on Monday, July 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $21.70.

Dominion Energy Midstream Partners stock traded up $0.25 during mid-day trading on Monday, hitting $17.92. 12,999 shares of the company’s stock were exchanged, compared to its average volume of 828,073. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.24 and a quick ratio of 1.24. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 13.22 and a beta of 1.67. Dominion Energy Midstream Partners has a 1-year low of $12.55 and a 1-year high of $32.95.

Dominion Energy Midstream Partners (NYSE:DM) last posted its earnings results on Thursday, November 1st. The pipeline company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.04). The business had revenue of $284.20 million for the quarter, compared to analyst estimates of $298.60 million. Dominion Energy Midstream Partners had a return on equity of 2.70% and a net margin of 21.93%. The company’s quarterly revenue was up 151.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, sell-side analysts anticipate that Dominion Energy Midstream Partners will post 1.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 5th will be paid a $0.369 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.24%. The ex-dividend date is Friday, November 2nd. This is a boost from Dominion Energy Midstream Partners’s previous quarterly dividend of $0.35. Dominion Energy Midstream Partners’s dividend payout ratio (DPR) is presently 109.63%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DM. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Dominion Energy Midstream Partners by 16.5% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 6,380,140 shares of the pipeline company’s stock valued at $117,665,000 after buying an additional 904,313 shares during the period. Bank of Montreal Can lifted its stake in shares of Dominion Energy Midstream Partners by 234.7% in the third quarter. Bank of Montreal Can now owns 514,710 shares of the pipeline company’s stock valued at $9,213,000 after buying an additional 360,911 shares during the period. Alliancebernstein L.P. bought a new stake in shares of Dominion Energy Midstream Partners in the third quarter valued at about $3,580,000. Alps Advisors Inc. lifted its stake in shares of Dominion Energy Midstream Partners by 4.8% in the second quarter. Alps Advisors Inc. now owns 4,058,176 shares of the pipeline company’s stock valued at $123,571,000 after buying an additional 184,836 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Dominion Energy Midstream Partners by 347.3% in the second quarter. SG Americas Securities LLC now owns 215,510 shares of the pipeline company’s stock valued at $2,931,000 after buying an additional 167,328 shares during the period. Institutional investors and hedge funds own 27.57% 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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