Dominion Energy Midstream Partners (NYSE:DM) issued its quarterly earnings data on Monday, January 29th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.05), Morningstar.com reports. Dominion Energy Midstream Partners had a net margin of 25.34% and a return on equity of 2.10%. The business had revenue of $121.30 million during the quarter, compared to analyst estimates of $109.15 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Dominion Energy Midstream Partners’s revenue for the quarter was down 31.7% compared to the same quarter last year.
Shares of Dominion Energy Midstream Partners (NYSE DM) opened at $27.80 on Tuesday. Dominion Energy Midstream Partners has a 12 month low of $25.10 and a 12 month high of $34.85. The stock has a market capitalization of $2,760.00, a P/E ratio of 19.31, a PEG ratio of 1.26 and a beta of 1.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.41 and a current ratio of 0.47.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 5th will be paid a dividend of $0.318 per share. The ex-dividend date is Friday, February 2nd. This represents a $1.27 dividend on an annualized basis and a dividend yield of 4.58%. This is a boost from Dominion Energy Midstream Partners’s previous quarterly dividend of $0.30. Dominion Energy Midstream Partners’s dividend payout ratio is currently 88.19%.
Several brokerages recently issued reports on DM. Zacks Investment Research lowered Dominion Energy Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada reiterated a “hold” rating and issued a $35.00 price objective on shares of Dominion Energy Midstream Partners in a research report on Tuesday, January 30th. JPMorgan Chase & Co. cut Dominion Energy Midstream Partners from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 14th. Scotiabank restated a “buy” rating and issued a $35.00 target price on shares of Dominion Energy Midstream Partners in a research note on Wednesday, October 25th. Finally, Wells Fargo & Co boosted their target price 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $34.22.
Several institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Dominion Energy Midstream Partners during the 4th quarter worth approximately $506,000. AMG Funds LLC bought a new stake in Dominion Energy Midstream Partners in the 4th quarter valued at $541,000. California Public Employees Retirement System raised its stake in Dominion Energy Midstream Partners by 4.0% in the 4th quarter. California Public Employees Retirement System now owns 49,900 shares of the pipeline company’s stock valued at $1,519,000 after acquiring an additional 1,900 shares during the period. River Road Asset Management LLC bought a new stake in Dominion Energy Midstream Partners in the 4th quarter valued at $12,787,000. Finally, Cadence Capital Management LLC raised its stake in Dominion Energy Midstream Partners by 28.9% in the 4th quarter. Cadence Capital Management LLC now owns 214,160 shares of the pipeline company’s stock valued at $6,521,000 after acquiring an additional 48,080 shares during the period. Institutional investors own 57.72% of the company’s stock.
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About Dominion Energy 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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