Public Employees Retirement Association of Colorado lowered its stake in Dominion Resources Inc. (NYSE:D) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,981 shares of the company’s stock after selling 6,860 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Dominion Resources were worth $9,584,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc RI boosted its stake in shares of Dominion Resources by 2.3% in the first quarter. Citizens Financial Group Inc RI now owns 14,439 shares of the company’s stock valued at $1,084,000 after buying an additional 325 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of 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. Simmons Bank bought a new stake in shares of Dominion Resources during the first quarter valued at $2,064,000. Geode Capital Management LLC boosted its stake in shares of Dominion Resources by 2.3% in the first quarter. Geode Capital Management LLC now owns 4,810,737 shares of the company’s stock valued at $360,645,000 after buying an additional 106,946 shares during the last quarter. Finally, AXA boosted its stake in shares of Dominion Resources by 9.9% in the first quarter. AXA now owns 449,957 shares of the company’s stock valued at $33,801,000 after buying an additional 40,361 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 0.72% during mid-day trading on Friday, hitting $72.78. The company had a trading volume of 1,694,062 shares. The firm has a 50-day moving average price of $74.30 and a 200-day moving average price of $74.24. The firm has a market capitalization of $45.54 billion, a PE ratio of 22.69 and a beta of 0.20. Dominion Resources Inc. has a 52 week low of $64.54 and a 52 week high of $78.97.
Dominion Resources (NYSE:D) last posted its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $2.99 billion. During the same quarter in the prior year, the business earned $0.73 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts forecast that Dominion Resources Inc. will post $3.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.85%. Dominion Resources’s dividend payout ratio (DPR) is 87.23%.
D has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed 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 cut Dominion Resources from an “overweight” rating to an “equal weight” rating and decreased 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 reiterated a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. Citigroup Inc. cut their price target on Dominion Resources from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. Finally, Barclays PLC increased their price target on Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, September 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price 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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