Beck Mack & Oliver LLC held its stake in shares of Dominion Resources Inc. (NYSE:D) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,365 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Dominion Resources were worth $1,821,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of D. Simmons Bank purchased a new position in Dominion Resources during the first quarter worth about $2,064,000. Geode Capital Management LLC raised its position in Dominion Resources by 2.3% in the first quarter. Geode Capital Management LLC now owns 4,810,737 shares of the company’s stock worth $360,645,000 after buying an additional 106,946 shares during the last quarter. AXA raised its position in Dominion Resources by 9.9% in the first quarter. AXA now owns 449,957 shares of the company’s stock worth $33,801,000 after buying an additional 40,361 shares during the last quarter. Uniplan Investment Counsel Inc. purchased a new position in Dominion Resources during the first quarter worth about $11,589,000. Finally, UBS Asset Management Americas Inc. raised its position in Dominion Resources by 2.2% in the first quarter. UBS Asset Management Americas Inc. now owns 1,987,090 shares of the company’s stock worth $149,269,000 after buying an additional 42,942 shares during the last quarter. Institutional investors and hedge funds own 63.21% of the company’s stock.
Shares of Dominion Resources Inc. (NYSE:D) traded down 0.45% during midday trading on Friday, hitting $72.98. The stock had a trading volume of 730,506 shares. The company has a market capitalization of $45.67 billion, a PE ratio of 22.76 and a beta of 0.20. The firm’s 50-day moving average is $74.40 and its 200 day moving average is $74.24. Dominion Resources Inc. has a one year low of $64.54 and a one year high of $78.97.
Dominion Resources (NYSE:D) last released its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. Dominion Resources had a return on equity of 14.48% and a net margin of 17.44%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts expect that Dominion Resources Inc. will post $3.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, August 31st. Dominion Resources’s payout ratio is 87.23%.
A number of research analysts recently issued reports on D shares. JPMorgan Chase & Co. lowered Dominion Resources from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $81.00 in a report on Thursday, June 16th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $77.00 target price on shares of Dominion Resources in a report on Wednesday, June 22nd. Zacks Investment Research cut Dominion Resources from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Morgan Stanley cut Dominion Resources from an “overweight” rating to an “equal weight” rating and dropped their price target 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. Finally, Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $76.77.
Dominion Resources Company Profile
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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