Dominion Midstream Partners LP (DM) is Downgraded by Morgan Stanley to Equal-Weight

Dominion Midstream Partners LP (DM) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Aug 18, 2016.

Many Wall Street Analysts have commented on Dominion Midstream Partners LP. Dominion Midstream Partners LP was Initiated by Stifel to “Hold” on Jul 13, 2016.

On the company’s financial health, Dominion Midstream Partners LP reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.29. The company had revenue of $85.60 million for the quarter, compared to analysts expectations of $88.32 million. The company’s revenue was down -18.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.26 EPS.

Dominion Midstream Partners LP closed down -0.19 points or -0.73% at $25.86 with 65,791 shares getting traded on Wednesday. Post opening the session at $25.95, the shares hit an intraday low of $25.81 and an intraday high of $26.1236 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Oct 6, 2015, John W. Snow (director) purchased 17,500 shares at $28.27 per share price. According to the SEC, on Sep 14, 2015, Thomas F Ii Farrell (CEO) purchased 5,000 shares at $29.96 per share price. On Aug 24, 2015, Mark F Mcgettrick (CFO) purchased 5,000 shares at $34.95 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.

Dominion Midstream Partners LP

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