Smith Salley & Associates raised its position in shares of Dominion Resources Inc. (NYSE:D) by 3.5% during the second quarter, Holdings Channel reports. The fund owned 7,209 shares of the company’s stock after buying an additional 243 shares during the period. Smith Salley & Associates’ holdings in Dominion Resources were worth $562,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in D. 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 last quarter. 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 last quarter. Bank of Montreal Can purchased a new stake in Dominion Resources during the second quarter valued at $36,271,000. Barometer Capital Management Inc. purchased a new stake in Dominion Resources during the second quarter valued at $15,173,000. Finally, Uniplan Investment Counsel Inc. purchased a new stake in Dominion Resources during the first quarter valued at $11,589,000. 63.21% of the stock is owned by institutional investors.
Shares of Dominion Resources Inc. (NYSE:D) traded down 0.20% on Friday, reaching $73.16. The company’s stock had a trading volume of 588,484 shares. Dominion Resources Inc. has a 12 month low of $64.54 and a 12 month high of $78.97. The stock has a 50 day moving average of $74.40 and a 200-day moving average of $74.24. The firm has a market cap of $45.78 billion, a price-to-earnings ratio of 22.81 and a beta of 0.20.
Dominion Resources (NYSE:D) last posted its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.71. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.99 billion. Dominion Resources had a return on equity of 14.48% and a net margin of 17.44%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, analysts anticipate that Dominion Resources Inc. will post $3.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 31st. This represents a $2.80 annualized dividend and a dividend yield of 3.82%. Dominion Resources’s dividend payout ratio is currently 87.23%.
A number of equities analysts have commented on the company. BMO Capital Markets restated a “hold” rating and set a $77.00 price objective on shares of Dominion Resources in a research note on Wednesday, June 22nd. Morgan Stanley lowered Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective 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 restated a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. Citigroup Inc. lowered their price objective on Dominion Resources from $78.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Finally, Barclays PLC lifted their price target on Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Dominion Resources has a consensus rating of “Hold” and a consensus price target of $76.77.
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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