Investors Buy Shares of Dominion Resources Inc. (D) on Weakness
Investors bought shares of Dominion Resources Inc. (NYSE:D) on weakness during trading on Friday. $39.53 million flowed into the stock on the tick-up and $21.44 million flowed out of the stock on the tick-down, for a money net flow of $18.09 million into the stock. Of all equities tracked, Dominion Resources had the 37th highest net in-flow for the day. Dominion Resources traded down ($0.10) for the day and closed at $74.06
D has been the topic of a number of recent analyst reports. Vetr upgraded 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 Monday, May 9th. Bank of America Corp. restated a “buy” rating on shares of Dominion Resources in a research report on Tuesday, May 24th. Canaccord Genuity restated a “hold” rating on shares of Dominion Resources in a research report on Monday, June 6th. JPMorgan Chase & Co. downgraded shares of 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. Finally, BMO Capital Markets restated a “hold” rating and issued a $77.00 price target on shares of Dominion Resources in a research report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $77.22.
The company has a market cap of $46.78 billion and a P/E ratio of 23.31. The stock’s 50-day moving average price is $76.31 and its 200-day moving average price is $73.68.
Dominion Resources (NYSE:D) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, meeting analysts’ consensus estimates of $0.71. During the same quarter in the previous year, the business earned $0.73 earnings per share. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.99 billion. The firm’s revenue was down 5.4% on a year-over-year basis. Analysts expect that Dominion Resources Inc. will post $3.78 earnings per share 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 given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Wednesday, August 31st.
A number of hedge funds and institutional investors have modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Dominion Resources by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,610,543 shares of the company’s stock worth $108,938,000 after buying an additional 74,038 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Dominion Resources by 69.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 73,258 shares of the company’s stock worth $4,955,000 after buying an additional 30,094 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Dominion Resources by 1.6% in the fourth quarter. American International Group Inc. now owns 219,828 shares of the company’s stock worth $14,869,000 after buying an additional 3,551 shares during 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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