Morgan Stanley Downgrades Dominion Midstream Partners LP to Equal-weight with Price Target $30.00

Brokerage firm Morgan Stanley Downgrades its rating on Dominion Midstream Partners LP(NYSE:DM). In a research note issued to the investors, the brokerage major Lowers the price-target to $30.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Aug 18, 2016.

In a different note, 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) made into the market gainers list on Mondays trading session with the shares advancing 0.55% or 0.14 points. Due to strong positive momentum, the stock ended at $25.64, which is also near the day’s high of $25.76. The stock began the session at $25.42 and the volume stood at 75,965 shares. The 52-week high of the shares is $37.93 and the 52 week low is $23.12. The company has a current market capitalization of $1,992 M and it has 7,76,95,160 shares in outstanding.

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 Jun 21, 2016, Resources Inc /va/ Dominion (director 10% owner) purchased 37,382 shares at $26.61 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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