Gerber Kawasaki Wealth & Investment Management acquired a new stake in Dominion Resources Inc. (NYSE:D) during the second quarter, according to its most recent filing with the SEC. The firm acquired 3,439 shares of the company’s stock, valued at approximately $268,000.
Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised 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. Renaissance Technologies LLC raised its stake in shares of 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 shares of Dominion Resources during the second quarter valued at approximately $36,271,000. Barometer Capital Management Inc. purchased a new stake in shares of Dominion Resources during the second quarter valued at approximately $15,173,000. Finally, Uniplan Investment Counsel Inc. purchased a new stake in shares of Dominion Resources during the first quarter valued at approximately $11,589,000. Hedge funds and other institutional investors 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, reaching $72.78. 1,694,062 shares of the company were exchanged. Dominion Resources Inc. has a 12 month low of $64.54 and a 12 month high of $78.97. The stock has a market capitalization of $45.54 billion, a P/E ratio of 22.69 and a beta of 0.20. The firm has a 50-day moving average price of $74.30 and a 200 day moving average price of $74.24.
Dominion Resources (NYSE:D) last issued 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 net margin of 17.44% and a return on equity of 14.48%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business earned $0.73 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. Equities research analysts anticipate that Dominion Resources Inc. will post $3.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.80 annualized dividend and a dividend yield of 3.85%. Dominion Resources’s dividend payout ratio (DPR) is currently 87.23%.
Several equities research analysts have commented on D shares. BMO Capital Markets restated a “hold” rating and issued a $77.00 price target on shares of Dominion Resources in a research note on Wednesday, June 22nd. Morgan Stanley lowered shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company 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 research note on Friday, August 12th. Citigroup Inc. lowered their price objective on shares of 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 raised their price objective on shares of Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average 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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