Investors Buy Dominion Resources Inc. (D) on Weakness
Investors bought shares of Dominion Resources Inc. (NYSE:D) on weakness during trading on Wednesday. $27.57 million flowed into the stock on the tick-up and $15.05 million flowed out of the stock on the tick-down, for a money net flow of $12.52 million into the stock. Of all stocks tracked, Dominion Resources had the 18th highest net in-flow for the day. Dominion Resources traded down ($0.53) for the day and closed at $77.30
D has been the topic of several recent analyst reports. Vetr upgraded shares of Dominion Resources from a “buy” rating to a “strong-buy” rating and set a $80.44 target price on the stock in a research note on Wednesday, April 20th. Zacks Investment Research upgraded shares of Dominion Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Canaccord Genuity restated a “hold” rating on shares of Dominion Resources in a research note on Monday, June 6th. JPMorgan Chase & Co. downgraded shares of Dominion Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $81.00 in a research note on Thursday, June 16th. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a “hold” rating and issued a $72.00 target price on shares of Dominion Resources in a research note on Tuesday, April 19th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $76.94.
The firm has a market cap of $47.63 billion and a P/E ratio of 24.38. The stock’s 50-day moving average price is $75.38 and its 200-day moving average price is $72.26.
Dominion Resources (NYSE:D) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02. During the same period in the prior year, the firm posted $0.99 earnings per share. Analysts anticipate that Dominion Resources Inc. will post $3.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Friday, June 3rd were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.62%.
Several hedge funds and institutional investors recently modified their holdings of the company. Azimuth Capital Management LLC boosted its position in Dominion Resources by 6.3% in the fourth quarter. Azimuth Capital Management LLC now owns 15,286 shares of the company’s stock worth $1,034,000 after buying an additional 900 shares in the last quarter. Haverford Trust Co. boosted its position in Dominion Resources by 15.2% in the fourth quarter. Haverford Trust Co. now owns 15,565 shares of the company’s stock worth $1,053,000 after buying an additional 2,052 shares in the last quarter. SVA Plumb Wealth Management LLC boosted its position in Dominion Resources by 12.9% in the fourth quarter. SVA Plumb Wealth Management LLC now owns 17,537 shares of the company’s stock worth $1,186,000 after buying an additional 1,999 shares in the last quarter. Girard Partners LTD. boosted its position in Dominion Resources by 11.4% in the fourth quarter. Girard Partners LTD. now owns 19,441 shares of the company’s stock worth $1,315,000 after buying an additional 1,982 shares in the last quarter. Finally, Violich Capital Management Inc. boosted its position in Dominion Resources by 1.3% in the fourth quarter. Violich Capital Management Inc. now owns 19,842 shares of the company’s stock worth $1,342,000 after buying an additional 250 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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