Bridge Creek Capital Management LLC cut its stake in shares of Dominion Resources Inc. (NYSE:D) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 40,204 shares of the company’s stock after selling 3,622 shares during the period. Dominion Resources makes up approximately 1.9% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Bridge Creek Capital Management LLC’s holdings in Dominion Resources were worth $3,133,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of 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 period. Geode Capital Management LLC boosted its stake 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 valued at $360,645,000 after buying an additional 106,946 shares during the period. Legal & General Group Plc boosted its stake in Dominion Resources by 1.9% in the first quarter. Legal & General Group Plc now owns 3,006,493 shares of the company’s stock valued at $225,823,000 after buying an additional 55,404 shares during the period. UBS Asset Management Americas Inc. boosted its stake 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 valued at $149,269,000 after buying an additional 42,942 shares during the period. Finally, 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 period. 63.19% of the stock is owned by institutional investors and hedge funds.
Shares of Dominion Resources Inc. (NYSE:D) traded up 0.74% during midday trading on Tuesday, hitting $73.37. 1,641,800 shares of the stock were exchanged. The firm has a market cap of $45.91 billion, a P/E ratio of 22.88 and a beta of 0.20. The firm has a 50 day moving average of $74.25 and a 200 day moving average of $74.22. Dominion Resources Inc. has a 12-month low of $64.54 and a 12-month 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The firm earned $2.60 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. Dominion Resources’s revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that Dominion Resources Inc. will post $3.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 2nd were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.80 dividend on an annualized basis and a yield of 3.82%. Dominion Resources’s payout ratio is 87.23%.
D has been the topic of several recent analyst reports. Canaccord Genuity restated a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. BMO Capital Markets restated a “hold” rating and issued a $77.00 price objective on shares of Dominion Resources in a report on Wednesday, June 22nd. Deutsche Bank AG restated a “hold” rating and issued a $73.00 price objective on shares of Dominion Resources in a report on Thursday, August 25th. Citigroup Inc. decreased their price objective on shares of Dominion Resources from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. Finally, Morgan Stanley lowered shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $82.00 to $79.00 in a report on Monday, August 8th. They noted that the move was a valuation call. One research 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 currently has a consensus 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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