Dominion Resources Inc. (D) Given New $74.00 Price Target at Citigroup Inc.
Several other equities analysts have also commented on the company. Morgan Stanley lowered Dominion Resources from an overweight rating to an equal weight rating and reduced their price target for the stock from $82.00 to $79.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Deutsche Bank AG reissued a hold rating and set a $73.00 price target on shares of Dominion Resources in a research report on Thursday, August 25th. Canaccord Genuity reissued a hold rating on shares of Dominion Resources in a research report on Friday, August 12th. BMO Capital Markets reissued a hold rating and set a $77.00 price target on shares of Dominion Resources in a research report on Wednesday, June 22nd. Finally, JPMorgan Chase & Co. lowered Dominion Resources from an overweight rating to a neutral rating and boosted their price target for the stock from $76.00 to $81.00 in a research report on Thursday, June 16th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $76.77.
Dominion Resources (NYSE:D) opened at 72.15 on Tuesday. The firm has a 50-day moving average of $75.19 and a 200 day moving average of $74.32. Dominion Resources has a 52 week low of $64.54 and a 52 week high of $78.97. 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 data on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.99 billion. Dominion Resources had a return on equity of 14.48% and a net margin of 17.44%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. On average, analysts anticipate that Dominion Resources will post $3.79 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd were issued a $0.70 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.88%. Dominion Resources’s dividend payout ratio (DPR) is 87.23%.
Large investors have recently modified their holdings of the stock. Strs Ohio increased its stake in shares of Dominion Resources by 5.8% in the second quarter. Strs Ohio now owns 384,730 shares of the company’s stock worth $29,982,000 after buying an additional 21,131 shares during the period. Miller Howard Investments Inc. NY increased its position in shares of Dominion Resources by 30.3% in the second quarter. Miller Howard Investments Inc. NY now owns 165,049 shares of the company’s stock worth $12,862,000 after buying an additional 38,372 shares during the last quarter. Hartford Investment Management Co. increased its position in shares of Dominion Resources by 1.8% in the second quarter. Hartford Investment Management Co. now owns 149,726 shares of the company’s stock worth $11,668,000 after buying an additional 2,642 shares during the last quarter. Legal & General Group Plc increased its position in shares of Dominion Resources by 1.9% in the first quarter. Legal & General Group Plc now owns 3,006,493 shares of the company’s stock worth $225,823,000 after buying an additional 55,404 shares during the last quarter. Finally, Springbok Capital Management LLC increased its position in shares of Dominion Resources by 32.8% in the first quarter. Springbok Capital Management LLC now owns 4,065 shares of the company’s stock worth $305,000 after buying an additional 1,005 shares during the last quarter. Institutional investors and hedge funds own 63.21% of the company’s stock.
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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