Independent Investors Inc. increased its position in Dominion Resources Inc. (NYSE:D) by 31.0% during the second quarter, Holdings Channel reports. The institutional investor owned 5,500 shares of the company’s stock after buying an additional 1,300 shares during the period. Independent Investors Inc.’s holdings in Dominion Resources were worth $428,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in D. Kistler Tiffany Companies LLC raised 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 worth $201,000 after buying an additional 12 shares in the last quarter. Pitcairn Co. raised its position in Dominion Resources by 0.5% in the second quarter. Pitcairn Co. now owns 5,215 shares of the company’s stock worth $407,000 after buying an additional 28 shares in the last quarter. Windward Capital Management Co. CA raised its position in Dominion Resources by 0.9% in the second quarter. Windward Capital Management Co. CA now owns 3,369 shares of the company’s stock worth $263,000 after buying an additional 29 shares in the last quarter. Essex Financial Services Inc. raised its position in Dominion Resources by 0.9% in the second quarter. Essex Financial Services Inc. now owns 3,662 shares of the company’s stock worth $285,000 after buying an additional 34 shares in the last quarter. Finally, Investment House LLC raised its position in Dominion Resources by 0.9% in the second quarter. Investment House LLC now owns 5,498 shares of the company’s stock worth $428,000 after buying an additional 48 shares in the last quarter. 63.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dominion Resources Inc. (NYSE:D) traded up 0.74% on Tuesday, hitting $73.37. The company had a trading volume of 1,613,429 shares. Dominion Resources Inc. has a 12 month low of $64.54 and a 12 month high of $78.97. The stock has a market cap of $45.91 billion, a PE ratio of 22.88 and a beta of 0.20. The company has a 50-day moving average of $74.25 and a 200 day moving average of $74.22.
Dominion Resources (NYSE:D) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, hitting the consensus estimate of $0.71. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.99 billion. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. Dominion Resources’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. Analysts anticipate that Dominion Resources Inc. will post $3.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 2nd were paid 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 yield of 3.84%. Dominion Resources’s dividend payout ratio (DPR) is 87.23%.
A number of equities research analysts have weighed in on D shares. Morgan Stanley lowered 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 report on Monday, August 8th. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Dominion Resources in a report on Thursday, August 25th. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. BMO Capital Markets reaffirmed a “hold” rating and issued a $77.00 price objective on shares of Dominion Resources in a report on Wednesday, June 22nd. Finally, 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 report on Tuesday, October 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Dominion Resources presently 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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