Markston International LLC reduced its stake in shares of Dominion Resources Inc. (NYSE:D) by 15.3% during the second quarter, Holdings Channel reports. The fund owned 15,481 shares of the company’s stock after selling 2,798 shares during the period. Markston International LLC’s holdings in Dominion Resources were worth $1,206,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of D. Cribstone Capital Management LLC purchased a new position in Dominion Resources during the second quarter valued at approximately $168,000. Kistler Tiffany Companies LLC increased its position in Dominion Resources by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,585 shares of the company’s stock valued at $201,000 after buying an additional 12 shares during the last quarter. Rockland Trust Co. purchased a new position in Dominion Resources during the second quarter valued at approximately $202,000. First Merchants Corp purchased a new position in Dominion Resources during the second quarter valued at approximately $204,000. Finally, Rehmann Capital Advisory Group purchased a new position in Dominion Resources during the first quarter valued at approximately $205,000. 63.21% of the stock is currently owned by institutional investors.
Shares of Dominion Resources Inc. (NYSE:D) traded down 0.64% on Friday, hitting $74.27. The stock had a trading volume of 3,153,613 shares. Dominion Resources Inc. has a 1-year low of $64.54 and a 1-year high of $78.97. The firm has a 50-day moving average of $75.35 and a 200 day moving average of $74.33. The company has a market capitalization of $46.48 billion, a PE ratio of 23.16 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, meeting the consensus estimate of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company earned $0.73 earnings per share. Dominion Resources’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities analysts anticipate that Dominion Resources Inc. will post $3.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 2nd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Wednesday, August 31st. Dominion Resources’s dividend payout ratio is currently 87.23%.
D has been the topic of a number of analyst reports. Zacks Investment Research downgraded Dominion Resources from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Barclays PLC increased their price target on Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley downgraded Dominion Resources from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $82.00 to $79.00 in a research report 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 report on Monday, June 6th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $73.00 price target on shares of Dominion Resources in a research report on Thursday, August 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Dominion Resources has a consensus rating of “Hold” and a consensus 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.
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