Fri, Jul. 22, 12:00 PM
Wed, May 4, 7:33 AM
Tue, Apr. 19, 10:23 AM
Thu, Feb. 25, 7:25 PM
- Morgan Stanley analyst Tom Abrams sees improvement in the MLP multiple compression that has weighed on the group throughout the oil downturn, and the firm expands its MLP coverage by initiating ratings on several midstream names.
- While MLP prices could yet fall to new lows, Abrams believes progress has been made in approaching a bottom; however, he says investors should continue to avoid MLPs with overly-levered balance sheets, funding issues, weak cash flows and high distribution risk.
- Initiated with an Overweight rating: BPL, PSXP, VLP, DM, CPPL.
- Initiated at Equal Weight: MMP, CPGX, EQGP, EQM, WGP, WES, NS, NSH.
- Initiated at Underweight: EEP, ENBL, EEQ, MEP.
Mon, Feb. 1, 7:09 AM
- Dominion Midstream (NYSE:DM): Q4 EPS of $0.32 beats by $0.02.
- Revenue of $82.7M (+22.5% Y/Y) misses by $15.94M.
Thu, Jan. 21, 2:49 PM
- Dominion Midstream (NYSE:DM) declares $0.2135/share quarterly dividend, 8.7% increase from prior dividend of $0.20.
- Forward yield 3.36%
- Payable Feb. 15; for shareholders of record Feb. 5; ex-div Feb. 3.
Nov. 2, 2015, 7:35 AM
- Dominion Midstream (NYSE:DM): Q3 EPS of $0.28 beats by $0.03.
- Revenue of $103.1M (+56.9% Y/Y) beats by $18.61M.
Oct. 23, 2015, 10:46 AM
- Dominion Midstream (NYSE:DM) declares $0.20/share quarterly dividend, 6.7% increase from prior dividend of $0.1875.
- Forward yield 2.64%
- Payable Nov. 13; for shareholders of record Nov. 3; ex-div Oct. 30.
Sep. 11, 2015, 12:44 PM
- While Goldman Sachs sees crude oil prices staying roughly flat at $45/bbl a year from now and warning of a potential collapse to $20, the firm also downgrades a wide swath of MLP and pipeline companies as it forecasts heightened risk to capital spending leading to lower distribution growth.
- The firm downgrades Plains All American (NYSE:PAA), ONEOK Partners (NYSE:OKS), Memorial Production Partners (NASDAQ:MEMP), Enable Midstream Partners (NYSE:ENBL) and Dominion Midstream (NYSE:DM) to Sell from Neutral; it cuts Emerge Energy (NYSE:EMES), Rose Rock Midstream (NYSE:RRMS), Concho Resources (NYSE:CXO) and RSP Permian (NYSE:RSPP) to Neutral from Buy.
- However, Goldman sees some opportunities despite the challenging outlook, preferring "stocks with assets leveraged to demand-pull (vs. supply-push)" such as Kinder Morgan (NYSE:KMI); the firm also upgrades Spectra Energy (NYSE:SE), Whiting Petroleum (NYSE:WLL) and Encaca (NYSE:ECA) to Buy from Neutral, and BP, TransCanada (NYSE:TRP) and Gran Tierra Energy (NYSEMKT:GTE) to Neutral from Sell.
Aug. 5, 2015, 7:49 AM
- Dominion Midstream (NYSE:DM): Q2 EPS of $0.26 beats by $0.02.
- Revenue of $105.4M (-5.2% Y/Y) beats by $30.72M.
Jul. 17, 2015, 11:59 AM
- Dominion Midstream (NYSE:DM) declares $0.1875/share quarterly distribution, 7.1% increase from prior distribution of $0.175.
- Forward yield 2.08%
- Payable Aug. 14; for shareholders of record Aug. 4; ex-div July 31.
May 28, 2015, 6:19 PM
- Morgan Stanley’s MLP analysts initiate coverage of eight major dropdown MLPs, citing attractive attributes such as high-quality asset bases, magnitude and sustainability of growth, and strong and supportive sponsorship.
- Lead analyst Brian Lasky's top pick in the group is Dominion Midstream Partners (NYSE:DM), which he says warrants a premium valuation to midstream industry and sponsor-backed dropdown peers based on its top-tier distribution growth rate, strong sponsor commitment, depth of inventory, and - most important - strategic asset positioning, with an ability to replenish its inventory.
- Lasky says these MLPs and their sponsors also have surprised to the upside, positioning the companies for attractive growth and visibility: AM, CNNX, CPPL, EQM, SUN, TLLP, VLP.
May 4, 2015, 7:37 AM
- Dominion Midstream (NYSE:DM): Q1 EPS of $0.19 in-line.
- Revenue of $67.2M (-2.5% Y/Y) misses by $0.84M.
Apr. 22, 2015, 3:53 PM
- Dominion Midstream (NYSE:DM) declares $0.175/share quarterly dividend, 26% increase from prior dividend of $0.1389.
- Forward yield 1.71%
- Payable May 15; for shareholders of record May 5; ex-div May 1.
Apr. 1, 2015, 8:16 AM
- Dominion Midstream Partners (NYSE:DM) agrees to acquire Dominion Carolina Gas Transmission from Dominion Resources (NYSE:D) for ~$495M.
- DM says the deal supports its intention to grow distributions to unitholders at a compounded annual growth rate of ~22%/year through the end of the decade.
- DM expects the addition to be immediately accretive to its distributed cash flow per unit.
Jan. 15, 2015, 11:42 AM
- A new report from J.P. Morgan’s energy team reminds investors that despite the Q4 meltdown from declining crude oil prices, MLPs still clawed out a 5% total return in 2014, far better than the -8% total return for the overall energy sector.
- Still, the firm is sticking with top blue chip MLPs and defensive natural gas names, tabbing six Outperform-rated stocks that can stand some volatility as part of a growth and income portfolio: EPD, KMI, PAA, BWP, DM, EQM.
- Others are more pessimistic on the group: S&P Capital IQ's Stewart Glickman says there isn't a single E&P MLP that has healthy fundamentals, though some companies such as PAA and RGP are now cheap enough to be potentially good deals.
- Renaissance Capital's Nick Einhorn thinks a better alternative is to invest in funds that own groups of the MLPs.
- ETFs: AMLP, AMJ, MLPL, YMLP, MLPI, MLPA, MLPN, EMLP, MLPG, MLPX, MLPS, MLPY, AMU, YMLI, ZMLP, AMZA, ENFR, ATMP, MLPC, MLPW, IMLP, OSMS, YGRO, MLPO
Dominion Midstream Partners LP owns the preferred equity interest and the general partner interest in Dominion Cove Point LNG, LP., which owns liquefied natural gas import, storage, regasification and transportation assets. The company was founded on March 11, 2014 and is headquartered in... More
Sector: Basic Materials
Country: United States
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