Traders Buy Shares of Dominion Resources Inc. (D) on Weakness
Investors purchased shares of Dominion Resources Inc. (NYSE:D) on weakness during trading hours on Thursday. $93.76 million flowed into the stock on the tick-up and $28.44 million flowed out of the stock on the tick-down, for a money net flow of $65.32 million into the stock. Of all companies tracked, Dominion Resources had the 16th highest net in-flow for the day. Dominion Resources traded down ($0.09) for the day and closed at $74.16
Several brokerages have recently commented on D. Zacks Investment Research lowered shares of Dominion Resources from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Deutsche Bank AG restated a “hold” rating and set a $73.00 price target on shares of Dominion Resources in a research note on Thursday, August 25th. Canaccord Genuity reiterated a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. Morgan Stanley lowered shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $82.00 to $79.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $77.00 target price on shares of Dominion Resources in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Dominion Resources has an average rating of “Hold” and an average price target of $77.22.
The firm has a market capitalization of $46.78 billion and a P/E ratio of 23.31. The company has a 50-day moving average price of $76.31 and a 200-day moving average price of $73.68.
Dominion Resources (NYSE:D) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.71. The business earned $2.60 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts anticipate that Dominion Resources Inc. will post $3.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Wednesday, August 31st.
Several hedge funds have made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake 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 in the last quarter. American International Group Inc. raised its stake 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 in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Dominion Resources by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,610,543 shares of the company’s stock worth $108,938,000 after buying an additional 74,038 shares in 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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