Dominion Midstream Partners, LP (NYSE:DM) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Dominion Midstream Partners, LP (NYSE:DM) from a hold rating to a strong-buy rating in a research report released on Tuesday, October 24th. The firm currently has $37.00 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. “

Several other research firms also recently issued reports on DM. Morgan Stanley downgraded shares of Dominion Midstream Partners, from an overweight rating to an underweight rating and increased their price objective for the company from $32.00 to $33.00 in a report on Thursday, September 28th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a buy rating and set a $35.00 price objective on shares of Dominion Midstream Partners, in a report on Wednesday, September 27th. Guggenheim began coverage on shares of Dominion Midstream Partners, in a research note on Tuesday, October 10th. They issued a buy rating and a $39.00 price target on the stock. TheStreet raised shares of Dominion Midstream Partners, from a c rating to a b rating in a research note on Monday, October 16th. Finally, Mizuho reissued a buy rating and issued a $34.00 price target on shares of Dominion Midstream Partners, in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $34.89.

Shares of Dominion Midstream Partners, (NYSE:DM) opened at $30.95 on Tuesday. Dominion Midstream Partners, has a 52 week low of $23.65 and a 52 week high of $34.85. The firm has a market cap of $2,088.54, a price-to-earnings ratio of 22.27, a PEG ratio of 1.31 and a beta of 1.69. The company has a quick ratio of 0.41, a current ratio of 0.47 and a debt-to-equity ratio of 0.08.

Dominion Midstream Partners, (NYSE:DM) last announced its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. Dominion Midstream Partners, had a net margin of 22.61% and a return on equity of 2.14%. The firm had revenue of $113.00 million for the quarter, compared to the consensus estimate of $104.86 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. research analysts forecast that Dominion Midstream Partners, will post 1.45 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, November 6th will be issued a $0.3025 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.91%. This is a boost from Dominion Midstream Partners,’s previous quarterly dividend of $0.29. Dominion Midstream Partners,’s payout ratio is 87.05%.

Several hedge funds have recently made changes to their positions in the stock. Linscomb & Williams Inc. grew its holdings in shares of Dominion Midstream Partners, by 0.3% in the second quarter. Linscomb & Williams Inc. now owns 13,180 shares of the pipeline company’s stock valued at $380,000 after purchasing an additional 36 shares in the last quarter. Alps Advisors Inc. lifted its stake in Dominion Midstream Partners, by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,447 shares of the pipeline company’s stock worth $446,000 after acquiring an additional 40 shares during the last quarter. Diversified Trust Co lifted its stake in Dominion Midstream Partners, by 1.5% in the second quarter. Diversified Trust Co now owns 25,836 shares of the pipeline company’s stock worth $745,000 after acquiring an additional 381 shares during the last quarter. Keybank National Association OH lifted its stake in Dominion Midstream Partners, by 5.3% in the second quarter. Keybank National Association OH now owns 8,000 shares of the pipeline company’s stock worth $231,000 after acquiring an additional 400 shares during the last quarter. Finally, Williams Jones & Associates LLC lifted its stake in Dominion Midstream Partners, by 1.9% in the second quarter. Williams Jones & Associates LLC now owns 22,460 shares of the pipeline company’s stock worth $648,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 54.42% of the company’s stock.

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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Analyst Recommendations for Dominion Midstream Partners, (NYSE:DM)

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