Mizuho Securities Initiates Coverage on Dominion Midstream Partners LP to Buy

Mizuho Securities Initiates Coverage on Dominion Midstream Partners LP(NYSE:DM). The shares have been rated Buy. The rating by Mizuho Securities was issued on Sep 30, 2016.

In a different note, On Sep 14, 2016, Stifel Nicolaus said it Upgrades its rating on Dominion Midstream Partners LP. The shares have been rated ‘Buy’ by the firm. On Aug 18, 2016, Morgan Stanley said it Downgrades its rating on Dominion Midstream Partners LP. In the research note, the firm Lowers the price-target to $40.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Aug 4, 2016, Barclays said it Maintains its rating on Dominion Midstream Partners LP. In the research note, the firm Lowers the price-target to $35.00 per share. The shares have been rated ‘Overweight’ by the firm.

Dominion Midstream Partners LP (DM) shares turned negative on Tuesdays trading session with the shares closing down -0.45 points or -1.83% at a volume of 80,326. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $24.765. The peak price level was also seen at $24.765 while the days lowest was $24.03. Finally the shares closed at $24.16. The 52-week high of the shares is $35.88 while the 52-week low is $23.12. According to the latest information available, the market cap of the company is $1,877 M.

Dominion Midstream Partners LP(DM) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $85.60M. Analysts had an estimated revenue of $93.83M. Earnings per share were $0.28. Analysts had estimated an EPS of $0.29.

Several Insider Transactions has been reported to the SEC. On Sep 19, 2016, Resources Inc /va/ Dominion (director 10% owner) purchased 56,744 shares at $25.04 per share price.Also, On Oct 6, 2015, John W. Snow (director) purchased 17,500 shares at $28.27 per share price.On Sep 14, 2015, Thomas F Ii Farrell (CEO) purchased 5,000 shares at $29.96 per share price, according to the Form-4 filing with the securities and exchange commission.

Dominion Midstream Partners LP (Dominion Midstream) through its wholly owned subsidiary Cove Point GP Holding Company LLC owns the preferred equity interests and the general partner interest of Dominion Cove Point LNG LP (Cove Point) which owns liquefied natural gas (LNG) import storage regasification and transportation assets. 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 via the Cove Point Pipeline. The Cove Point LNG Facility includes an offshore pier LNG storage tanks regasification facilities and associated equipment. The Cove Point Pipeline is a 36-inch diameter bi-directional underground interstate natural gas pipeline. Cove Point is engaged in the process of constructing the Liquefaction Project.

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