Cullen Frost Bankers Inc. decreased its position in shares of Dominion Resources Inc. (NYSE:D) by 11.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 28,499 shares of the company’s stock after selling 3,617 shares during the period. Cullen Frost Bankers Inc.’s holdings in Dominion Resources were worth $2,221,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services Inc raised its stake in Dominion Resources by 6.3% in the first quarter. Commonwealth Equity Services Inc now owns 208,332 shares of the company’s stock worth $15,650,000 after buying an additional 12,412 shares in the last quarter. River Wealth Advisors LLC raised its stake in Dominion Resources by 0.7% in the first quarter. River Wealth Advisors LLC now owns 35,134 shares of the company’s stock worth $2,639,000 after buying an additional 257 shares in the last quarter. Sii Investments Inc. WI raised its stake in Dominion Resources by 8.5% in the first quarter. Sii Investments Inc. WI now owns 5,700 shares of the company’s stock worth $430,000 after buying an additional 446 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in Dominion Resources by 0.3% in the first quarter. Chesley Taft & Associates LLC now owns 15,492 shares of the company’s stock worth $1,164,000 after buying an additional 50 shares in the last quarter. Finally, Delta Asset Management LLC TN raised its stake in Dominion Resources by 2.4% in the first quarter. Delta Asset Management LLC TN now owns 6,435 shares of the company’s stock worth $484,000 after buying an additional 150 shares in the last quarter. 63.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dominion Resources Inc. (NYSE:D) traded down 1.07% during mid-day trading on Tuesday, reaching $75.78. 2,936,914 shares of the company’s stock traded hands. Dominion Resources Inc. has a 12-month low of $64.54 and a 12-month high of $78.97. The company has a market cap of $47.42 billion, a P/E ratio of 23.63 and a beta of 0.14. The company’s 50 day moving average is $75.35 and its 200 day moving average is $74.30.
Dominion Resources (NYSE:D) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.71. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.99 billion. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. On average, analysts predict that Dominion Resources Inc. will post $3.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.69%. Dominion Resources’s payout ratio is currently 87.23%.
Several brokerages have commented on D. BMO Capital Markets restated a “hold” rating and issued a $77.00 price objective on shares of Dominion Resources in a report on Wednesday, June 22nd. Zacks Investment Research lowered shares of Dominion Resources from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Canaccord Genuity reiterated a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. Morgan Stanley lowered shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their target price 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. Finally, Barclays PLC raised their price target on shares of Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target 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.
Want to see what other hedge funds are holding D? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dominion Resources Inc. (NYSE:D).
Receive News & Ratings for Dominion Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dominion Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.