Dominion Resources Inc. (D) Stake Decreased by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its stake in Dominion Resources Inc. (NYSE:D) by 15.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,446 shares of the company’s stock after selling 72,642 shares during the period. JPMorgan Chase & Co. owned about 0.06% of Dominion Resources worth $30,506,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Dominion Resources by 10.3% in the first quarter. Wellington Management Group LLP now owns 28,779,149 shares of the company’s stock worth $2,161,888,000 after buying an additional 2,689,111 shares during the period. BlackRock Fund Advisors raised its position in shares of Dominion Resources by 6.1% in the first quarter. BlackRock Fund Advisors now owns 13,115,705 shares of the company’s stock worth $985,252,000 after buying an additional 759,697 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Dominion Resources during the second quarter worth approximately $54,728,000. Renaissance Technologies LLC raised its position in shares of Dominion Resources by 60.0% in the first quarter. Renaissance Technologies LLC now owns 1,654,400 shares of the company’s stock worth $124,279,000 after buying an additional 620,400 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Dominion Resources during the second quarter worth approximately $36,271,000. Institutional investors own 63.41% of the company’s stock.
Shares of Dominion Resources Inc. (NYSE:D) traded down 0.24% during trading on Tuesday, reaching $75.72. 1,158,788 shares of the company traded hands. The firm’s 50-day moving average is $75.34 and its 200-day moving average is $74.09. The stock has a market capitalization of $47.38 billion, a PE ratio of 23.61 and a beta of 0.14. Dominion Resources Inc. has a 12-month low of $64.54 and a 12-month high of $78.97.
Dominion Resources (NYSE:D) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The business earned $2.60 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Dominion Resources Inc. will post $3.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors 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 3.69%. Dominion Resources’s dividend payout ratio (DPR) is presently 87.23%.
D has been the topic of a number of research reports. Bank of America Corp. reiterated a “buy” rating on shares of Dominion Resources in a research note on Tuesday, May 24th. Morgan Stanley lowered shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and decreased their price target 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. Deutsche Bank AG reiterated a “hold” rating and issued a $73.00 price target on shares of Dominion Resources in a research note on Thursday, August 25th. Canaccord Genuity reissued 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 price objective on shares of Dominion Resources in a report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Dominion Resources has a consensus rating of “Hold” and a consensus target price of $77.22.
Dominion Resources Company Profile
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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