Dominion Energy Midstream Partners (DM) Issues Earnings Results

Dominion Energy Midstream Partners (NYSE:DM) released its earnings results on Thursday. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.04), MarketWatch Earnings reports. The business had revenue of $284.20 million during the quarter, compared to analyst estimates of $298.60 million. Dominion Energy Midstream Partners had a net margin of 28.46% and a return on equity of 2.76%. The business’s quarterly revenue was up 151.5% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS.

Shares of Dominion Energy Midstream Partners stock traded down $0.66 during midday trading on Friday, hitting $17.25. 9,520 shares of the company were exchanged, compared to its average volume of 790,196. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.42 and a quick ratio of 1.24. The company has a market capitalization of $2.35 billion, a PE ratio of 12.76 and a beta of 1.96. Dominion Energy Midstream Partners has a 52 week low of $12.55 and a 52 week high of $32.95.

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 given a dividend of $0.369 per share. This represents a $1.48 annualized dividend and a dividend yield of 8.56%. The ex-dividend date of this dividend is Friday, November 2nd. This is an increase from Dominion Energy Midstream Partners’s previous quarterly dividend of $0.35. Dominion Energy Midstream Partners’s dividend payout ratio (DPR) is 103.70%.

Several institutional investors have recently bought and sold shares of DM. Wells Fargo & Company MN lifted its position in shares of Dominion Energy Midstream Partners by 44.5% during the 1st quarter. Wells Fargo & Company MN now owns 127,622 shares of the pipeline company’s stock worth $1,958,000 after buying an additional 39,299 shares during the period. BlackRock Inc. lifted its position in shares of Dominion Energy Midstream Partners by 1.0% during the 1st quarter. BlackRock Inc. now owns 426,056 shares of the pipeline company’s stock worth $6,540,000 after buying an additional 4,300 shares during the period. California Public Employees Retirement System lifted its position in shares of Dominion Energy Midstream Partners by 10.1% during the 1st quarter. California Public Employees Retirement System now owns 54,917 shares of the pipeline company’s stock worth $843,000 after buying an additional 5,017 shares during the period. Bank of Montreal Can lifted its position in shares of Dominion Energy Midstream Partners by 95.2% during the 2nd quarter. Bank of Montreal Can now owns 153,799 shares of the pipeline company’s stock worth $2,092,000 after buying an additional 75,000 shares during the period. Finally, A. D. Beadell Investment Counsel Inc. lifted its position in shares of Dominion Energy Midstream Partners by 44.9% during the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 128,050 shares of the pipeline company’s stock worth $1,741,000 after buying an additional 39,700 shares during the period. Institutional investors and hedge funds own 27.59% of the company’s stock.

Several analysts have recently weighed in on DM shares. Zacks Investment Research lowered Dominion Energy Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Stifel Nicolaus lifted their price objective on Dominion Energy Midstream Partners from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, July 9th. Barclays set a $17.00 price objective on Dominion Energy Midstream Partners and gave the stock a “hold” rating in a report on Friday, October 12th. Morgan Stanley lifted their price objective on Dominion Energy Midstream Partners from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, September 21st. Finally, Citigroup lowered Dominion Energy Midstream Partners from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a report on Thursday, September 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $21.20.

Dominion Energy Midstream Partners 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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Earnings History for Dominion Energy Midstream Partners (NYSE:DM)

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