Westpac Banking Corp raised its stake in shares of Dominion Resources Inc. (NYSE:D) by 43.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,442 shares of the company’s stock after buying an additional 10,746 shares during the period. Westpac Banking Corp’s holdings in Dominion Resources were worth $2,762,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Dominion Resources by 10.3% in the first quarter. Wellington Management Group LLP now owns 28,779,149 shares of the company’s stock valued at $2,161,888,000 after buying an additional 2,689,111 shares during the period. Vanguard Group Inc. boosted its stake in Dominion Resources by 5.9% in the second quarter. Vanguard Group Inc. now owns 39,489,005 shares of the company’s stock valued at $3,077,377,000 after buying an additional 2,211,194 shares during the period. BlackRock Fund Advisors boosted its stake in Dominion Resources by 6.1% in the first quarter. BlackRock Fund Advisors now owns 13,115,705 shares of the company’s stock valued at $985,252,000 after buying an additional 759,697 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Dominion Resources during the second quarter valued at $54,728,000. Finally, Renaissance Technologies LLC boosted its stake in Dominion Resources by 60.0% in the first quarter. Renaissance Technologies LLC now owns 1,654,400 shares of the company’s stock valued at $124,279,000 after buying an additional 620,400 shares during the period. Hedge funds and other institutional investors own 63.21% of the company’s stock.
Dominion Resources Inc. (NYSE:D) traded down 0.04% on Tuesday, hitting $76.57. 201,905 shares of the company were exchanged. Dominion Resources Inc. has a 52 week low of $64.54 and a 52 week high of $78.97. The company has a 50 day moving average price of $75.33 and a 200-day moving average price of $74.27. The stock has a market capitalization of $47.91 billion, a P/E ratio of 23.88 and a beta of 0.14.
Dominion Resources (NYSE:D) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.71. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. Dominion Resources’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. On average, equities analysts expect that Dominion Resources Inc. will post $3.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 2nd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Wednesday, August 31st. Dominion Resources’s payout ratio is 87.23%.
Several research analysts recently issued reports on D shares. BMO Capital Markets reissued a “hold” rating and set a $77.00 target price on shares of Dominion Resources in a research note on Wednesday, June 22nd. Morgan Stanley lowered shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $82.00 to $79.00 in a research note 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 research note on Friday, August 12th. Barclays PLC increased their target price on shares of Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lowered shares of Dominion Resources from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $81.00 in a research note on Thursday, June 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have given 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 $77.13.
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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