Dominion Resources Inc. (D) Stake Reduced by Grandfield & Dodd LLC
Grandfield & Dodd LLC lowered its position in Dominion Resources Inc. (NYSE:D) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,716 shares of the company’s stock after selling 3,130 shares during the period. Grandfield & Dodd LLC’s holdings in Dominion Resources were worth $4,654,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in Dominion Resources by 14.4% in the second quarter. Advisory Services Network LLC now owns 1,513 shares of the company’s stock valued at $118,000 after buying an additional 191 shares during the last quarter. Cribstone Capital Management LLC bought a new stake in Dominion Resources during the second quarter valued at $168,000. Kistler Tiffany Companies LLC increased its stake in Dominion Resources by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,585 shares of the company’s stock valued at $201,000 after buying an additional 12 shares during the last quarter. Rockland Trust Co. bought a new stake in Dominion Resources during the second quarter valued at $202,000. Finally, First Merchants Corp bought a new stake in Dominion Resources during the second quarter valued at $204,000. Hedge funds and other institutional investors own 63.21% of the company’s stock.
Shares of Dominion Resources Inc. (NYSE:D) traded down 1.54% during trading on Tuesday, reaching $72.15. The company had a trading volume of 3,177,488 shares. Dominion Resources Inc. has a 1-year low of $64.54 and a 1-year high of $78.97. The company’s 50 day moving average is $75.27 and its 200-day moving average is $74.33. The stock has a market capitalization of $45.15 billion, a price-to-earnings ratio of 22.50 and a beta of 0.20.
Dominion Resources (NYSE:D) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Dominion Resources Inc. will post $3.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.88%. The ex-dividend date was Wednesday, August 31st. Dominion Resources’s dividend payout ratio is currently 87.23%.
Several research firms recently issued reports on D. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a research report on Friday, August 12th. BMO Capital Markets reaffirmed a “hold” rating and issued a $77.00 price objective on shares of Dominion Resources in a research report on Wednesday, June 22nd. JPMorgan Chase & Co. cut Dominion Resources from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $76.00 to $81.00 in a research report on Thursday, June 16th. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Dominion Resources in a research report on Thursday, August 25th. Finally, Citigroup Inc. lowered their price objective on Dominion Resources from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Dominion Resources presently has a consensus rating of “Hold” and a consensus price target of $76.77.
About Dominion Resources
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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