Dominion Resources Inc. (D) Stock Price Up 1.6%
Dominion Resources Inc. (NYSE:D) rose 1.6% on Wednesday . The stock traded as high as $75.92 and last traded at $75.84, with a volume of 1,970,035 shares changing hands. The stock had previously closed at $74.68.
D has been the subject of several analyst reports. Bank of America Corp. restated a “buy” rating on shares of Dominion Resources in a report on Tuesday, May 24th. Vetr cut Dominion Resources from a “strong-buy” rating to a “buy” rating and set a $80.44 price objective for the company. in a report on Monday, May 16th. Morgan Stanley cut Dominion Resources from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $82.00 to $79.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Canaccord Genuity reiterated a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $77.00 target price on shares of Dominion Resources in a research report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $77.13.
The firm’s 50-day moving average is $77.04 and its 200-day moving average is $73.29. The company has a market cap of $48.10 billion and a P/E ratio of 23.97.
Dominion Resources (NYSE:D) last posted its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Analysts anticipate that Dominion Resources Inc. will post $3.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $2.80 dividend on an annualized basis and a yield of 3.64%.
Other institutional investors have modified their holdings of the company. American International Group Inc. increased its position in shares of Dominion Resources by 1.6% in the fourth quarter. American International Group Inc. now owns 219,828 shares of the company’s stock worth $14,869,000 after buying an additional 3,551 shares during the last quarter. Stephens Inc. AR increased its position in shares of Dominion Resources by 12.6% in the fourth quarter. Stephens Inc. AR now owns 67,024 shares of the company’s stock worth $4,534,000 after buying an additional 7,500 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Dominion Resources by 45.8% in the fourth quarter. Victory Capital Management Inc. now owns 45,217 shares of the company’s stock worth $3,058,000 after buying an additional 14,203 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Dominion Resources during the fourth quarter worth about $1,598,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Dominion Resources by 69.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 73,258 shares of the company’s stock worth $4,955,000 after buying an additional 30,094 shares during the last quarter.
Dominion Resources, Inc (Dominion) is a holding company. The Company is a producer and transporter of energy. The Company is a provider of electricity, natural gas and related services to customers in the eastern region of the United States. The Company operates through three segments: Dominion Virginia Power (DVP), Dominion Generation and Dominion Energy.
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