Dominion Resources Inc. (D) Trading Up 1.6%
Dominion Resources Inc. (NYSE:D) shares were up 1.6% on Wednesday . The stock traded as high as $75.92 and last traded at $75.84, with a volume of 1,970,035 shares changing hands. The stock had previously closed at $74.68.
Several research analysts have recently weighed in on D shares. Vetr raised shares of Dominion Resources from a “buy” rating to a “strong-buy” rating and set a $80.44 price target on the stock in a research report on Wednesday, April 20th. Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a research report on Monday, June 6th. JPMorgan Chase & Co. cut shares of Dominion Resources from an “overweight” rating to a “neutral” rating and boosted their price target 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. Morgan Stanley cut shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $82.00 to $79.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Finally, Bank of America Corp. reissued a “buy” rating on shares of Dominion Resources in a research report on Tuesday, May 24th. 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. The stock has an average rating of “Hold” and an average target price of $77.13.
The firm has a market cap of $47.96 billion and a price-to-earnings ratio of 23.90. The stock has a 50 day moving average of $77.02 and a 200 day moving average of $73.24.
Dominion Resources (NYSE:D) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. During the same quarter in the prior year, the business posted $0.73 EPS. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.99 billion. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts expect that Dominion Resources Inc. will post $3.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Wednesday, August 31st.
A number of hedge funds have bought and sold shares of the stock. Venturi Wealth Management LLC acquired a new stake in Dominion Resources during the fourth quarter valued at approximately $1,598,000. Victory Capital Management Inc. boosted its stake in Dominion Resources by 45.8% in the fourth quarter. Victory Capital Management Inc. now owns 45,217 shares of the company’s stock valued at $3,058,000 after buying an additional 14,203 shares during the period. Stephens Inc. AR boosted its stake in Dominion Resources by 12.6% in the fourth quarter. Stephens Inc. AR now owns 67,024 shares of the company’s stock valued at $4,534,000 after buying an additional 7,500 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Dominion Resources by 69.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 73,258 shares of the company’s stock valued at $4,955,000 after buying an additional 30,094 shares during the period. Finally, American International Group Inc. boosted its stake in Dominion Resources by 1.6% in the fourth quarter. American International Group Inc. now owns 219,828 shares of the company’s stock valued at $14,869,000 after buying an additional 3,551 shares during the period.
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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