Hite Hedge Asset Management Lowers stake in Dominion Midstream Partners LP (DM)

Dominion Midstream Partners LP (DM) : Hite Hedge Asset Management reduced its stake in Dominion Midstream Partners LP by 14.63% during the most recent quarter end. The investment management company now holds a total of 362,061 shares of Dominion Midstream Partners LP which is valued at $12,143,526 after selling 62,023 shares in Dominion Midstream Partners LP , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Dominion Midstream Partners LP makes up approximately 4.95% of Hite Hedge Asset Management’s portfolio.

Dominion Midstream Partners LP closed down -0.15 points or -0.45% at $33.39 with 66,898 shares getting traded on Monday. Post opening the session at $33.5, the shares hit an intraday low of $32.94 and an intraday high of $34.057 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Chicago Partners Investment Group boosted its stake in DM in the latest quarter, The investment management firm added 2,267 additional shares and now holds a total of 50,886 shares of Dominion Midstream Partners LP which is valued at $1,706,716. Dominion Midstream Partners LP makes up approx 0.85% of Chicago Partners Investment Group’s portfolio.Center Coast Capital Advisors Lp reduced its stake in DM by selling 59,403 shares or 9.46% in the most recent quarter. The Hedge Fund company now holds 568,362 shares of DM which is valued at $18,045,494. Dominion Midstream Partners LP makes up approx 0.55% of Center Coast Capital Advisors Lp’s portfolio.Seabridge Investment Advisors reduced its stake in DM by selling 4,210 shares or 30.49% in the most recent quarter. The Hedge Fund company now holds 9,600 shares of DM which is valued at $304,800. Dominion Midstream Partners LP makes up approx 0.07% of Seabridge Investment Advisors’s portfolio.Spirit Of America Management Corpny boosted its stake in DM in the latest quarter, The investment management firm added 128,697 additional shares and now holds a total of 357,149 shares of Dominion Midstream Partners LP which is valued at $10,732,327. Dominion Midstream Partners LP makes up approx 1.91% of Spirit Of America Management Corpny’s portfolio.

On the company’s financial health, Dominion Midstream Partners LP reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 1, 2016. Analyst had a consensus of $0.28. The company had revenue of $82.70 million for the quarter, compared to analysts expectations of $101.94 million. The company’s revenue was up 22.5% compared to the same quarter last year.

Many Wall Street Analysts have commented on Dominion Midstream Partners LP. Dominion Midstream Partners LP was Initiated by Morgan Stanley to “Overweight” on Feb 25, 2016.

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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