TheStreet downgraded shares of Dominion Cove Point LNG (NYSE:DM) from a b- rating to a c+ rating in a research report released on Thursday, March 15th.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Dominion Cove Point LNG from a hold rating to a sell rating in a research report on Tuesday, January 16th. Stifel Nicolaus assumed coverage on shares of Dominion Cove Point LNG in a research report on Wednesday, January 17th. They issued a buy rating and a $35.00 price target on the stock. UBS reiterated a buy rating and issued a $36.00 price target (down from $39.00) on shares of Dominion Cove Point LNG in a research report on Friday, March 2nd. Morgan Stanley cut their price objective on Dominion Cove Point LNG from $33.00 to $32.00 and set an underweight rating on the stock in a report on Friday, November 17th. Finally, Wolfe Research downgraded Dominion Cove Point LNG from an outperform rating to a peer perform rating in a report on Friday, March 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $28.75.
Shares of DM traded down $0.40 during midday trading on Thursday, hitting $14.95. 497,733 shares of the stock traded hands, compared to its average volume of 734,740. Dominion Cove Point LNG has a 1-year low of $14.65 and a 1-year high of $34.85. The company has a market cap of $1,493.97, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 0.67 and a beta of 1.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.74 and a current ratio of 0.96.
Dominion Cove Point LNG (NYSE:DM) last announced its quarterly earnings results on Monday, January 29th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). The firm had revenue of $121.30 million for the quarter, compared to analyst estimates of $109.15 million. Dominion Cove Point LNG had a net margin of 25.34% and a return on equity of 2.07%. The business’s revenue was down 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. analysts predict that Dominion Cove Point LNG will post 1.6 EPS for the current year.
In related news, major shareholder Grid Plc National sold 6,783,373 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $25.26, for a total value of $171,348,001.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.17% of the company’s stock.
A number of institutional investors have recently made changes to their positions in DM. Keybank National Association OH boosted its position in Dominion Cove Point LNG by 84.7% during the third quarter. Keybank National Association OH now owns 14,775 shares of the pipeline company’s stock worth $473,000 after purchasing an additional 6,775 shares during the period. Edge Advisors LLC lifted its holdings in shares of Dominion Cove Point LNG by 3.9% during the third quarter. Edge Advisors LLC now owns 211,571 shares of the pipeline company’s stock worth $6,769,000 after buying an additional 8,017 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Dominion Cove Point LNG during the third quarter worth approximately $570,000. Cadence Capital Management LLC acquired a new position in shares of Dominion Cove Point LNG during the third quarter worth approximately $5,315,000. Finally, Cutler Capital Management LLC lifted its holdings in shares of Dominion Cove Point LNG by 14.9% during the third quarter. Cutler Capital Management LLC now owns 70,077 shares of the pipeline company’s stock worth $2,242,000 after buying an additional 9,077 shares during the last quarter. 55.78% of the stock is owned by hedge funds and other institutional investors.
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Dominion Cove Point LNG Company Profile
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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