With Shares Trading up at $32.60 (DM) Dominion Energy Midstream Declares…


Dominion Energy Midstream Partn (NYSE:DM):

Dominion Energy Midstream Declares Quarterly Cash Distribution; Increases Distribution by 5 Percent Above Second-Quarter Distribution.

The company is now up from yesterday’s close of 32.4.

Additionally Dominion Energy Midstream Partn recently declared a dividend for shareholders that was paid on Tue Aug 15, 2017. The dividend payment was $0.288 per share for the quarter or $1.15 annualized. This dividend represents a yield of $3.58 which is the dividend as a percentage of the current share price. The ex-dividend date was Wednesday the 2nd of August 2017.

Dominion Energy Midstream Partners, LP, formerly Dominion Midstream Partners, LP, launched on March 11, 2014, is a limited partnership. The Company is formed to grow a portfolio of natural gas terminaling, processing, storage, transportation and related assets. The Business’s segments include Dominion Energy, which consists of gas transportation, liquefied natural gas (LNG) import and storage, and Corporate and Other. The Company owns the preferred equity interests and the general partner interest of Dominion Cove Point LNG, LP (Cove Point). Cove Point’s operations consist of LNG import and storage services at the Cove Point LNG Facility and the transportation of domestic natural gas and regasified LNG to Mid-Atlantic markets through the Cove Point Pipeline..

The stock is trading at $32.60 a tad above the 50 day moving average which is $31.48 and which is quite a bit higher than the 200 day moving average of $29.42. The 50 day moving average was up $1.12 and the 200 day average went up $3.18 or +10.81%.

The P/E ratio is currently 24.06 and the market cap of the company is 3.23B. As of the last earnings report the EPS was $1.36 and is expected to be $1.28 for the current year with 99,222,000 shares outstanding. Next quarter’s EPS is expected be $0.31 and the next full year EPS is anticipated to be $1.44.

Traders are more bearish on Dominion Energy Midstream Partn of late if you watch the uptick in short interest. The company had a rise in short interest from September 15, 2017 to September 29, 2017 of 45.23%. Short interest grew 890,596 over that period. With short interest at 2,859,747 and short average daily volume at 395,287, days to cover is 7.0 and the short interest percentage is 0.02% as of September 29.

Brokerage analysts have issued ratings on Dominion Energy Midstream Partn recently. On July 18 the stock rating was downgraded from “Overweight” to “Equal-Weight” in an announcement from Barclays. On August 30, 2017 the stock rating was set at “Equal-Weight” according to a Morgan Stanley report a boost from the previous “Equal-weight” rating.

On September 28 the company was downgraded to “Underweight” from “Equal-Weight” in a report from Morgan Stanley. Guggenheim started covering DM by announcing an initial rating of “Buy”.