Wealth Enhancement Advisory Services LLC Increases Stake in Dominion Resources Inc. (D)
Wealth Enhancement Advisory Services LLC increased its stake in Dominion Resources Inc. (NYSE:D) by 13.1% during the second quarter, Holdings Channel reports. The fund owned 25,756 shares of the company’s stock after buying an additional 2,975 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Dominion Resources were worth $2,007,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in 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 worth $118,000 after buying an additional 191 shares in the last quarter. Cribstone Capital Management LLC acquired a new stake in Dominion Resources during the second quarter worth $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 worth $201,000 after buying an additional 12 shares in the last quarter. Rockland Trust Co. acquired a new stake in Dominion Resources during the second quarter worth $202,000. Finally, First Merchants Corp acquired a new stake in Dominion Resources during the second quarter worth $204,000. Institutional investors and hedge funds own 63.19% of the company’s stock.
Shares of Dominion Resources Inc. (NYSE:D) traded up 0.10% during mid-day trading on Monday, reaching $72.85. The company’s stock had a trading volume of 697,419 shares. Dominion Resources Inc. has a 12 month low of $64.54 and a 12 month high of $78.97. The firm has a market cap of $45.59 billion, a PE ratio of 22.72 and a beta of 0.20. The company has a 50-day moving average of $74.30 and a 200-day moving average of $74.24.
Dominion Resources (NYSE:D) last released its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.71. The company 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%. Dominion Resources’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. On average, analysts predict that Dominion Resources Inc. will post $3.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, August 31st. Dominion Resources’s dividend payout ratio (DPR) is currently 87.23%.
D has been the subject of a number of analyst reports. BMO Capital Markets reissued a “hold” rating and set a $77.00 price objective on shares of Dominion Resources in a report on Wednesday, June 22nd. Zacks Investment Research cut Dominion Resources from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Morgan Stanley cut Dominion Resources from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $82.00 to $79.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $73.00 price objective on shares of Dominion Resources in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Dominion Resources presently has a consensus rating of “Hold” and an average target price of $76.77.
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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