Investors Buy Shares of Dominion Resources Inc. (D) on Weakness
Traders bought shares of Dominion Resources Inc. (NYSE:D) on weakness during trading on Tuesday. $56.16 million flowed into the stock on the tick-up and $22.22 million flowed out of the stock on the tick-down, for a money net flow of $33.94 million into the stock. Of all equities tracked, Dominion Resources had the 14th highest net in-flow for the day. Dominion Resources traded down ($0.27) for the day and closed at $75.63
A number of analysts have commented on the company. Zacks Investment Research lowered Dominion Resources from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Morgan Stanley lowered 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. Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a report on Monday, June 6th. Deutsche Bank AG reissued a “hold” rating and set a $73.00 price objective on shares of Dominion Resources in a report on Thursday, August 25th. Finally, BMO Capital Markets restated a “hold” rating and issued a $77.00 target price on shares of Dominion Resources in a research note on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $77.22.
The stock has a 50 day moving average of $75.29 and a 200-day moving average of $74.12. The company has a market cap of $47.33 billion, a PE ratio of 23.58 and a beta of 0.14.
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Dominion Resources (NYSE:D) last announced its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The business earned $2.60 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts forecast that Dominion Resources Inc. will post $3.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Wednesday, August 31st. Dominion Resources’s dividend payout ratio is 87.23%.
Institutional investors have recently made changes to their positions in the stock. Wealthcare Capital Management LLC purchased a new stake in shares of Dominion Resources during the second quarter valued at $111,000. Advisory Services Network LLC increased its stake in shares of Dominion Resources by 14.4% in the second quarter. Advisory Services Network LLC now owns 1,513 shares of the company’s stock valued at $118,000 after buying an additional 191 shares during the period. MCF Advisors LLC increased its stake in shares of Dominion Resources by 26.6% in the second quarter. MCF Advisors LLC now owns 1,516 shares of the company’s stock valued at $118,000 after buying an additional 319 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Dominion Resources during the second quarter valued at $119,000. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in shares of Dominion Resources during the second quarter valued at $125,000. 63.21% of the stock is owned by institutional investors and hedge funds.
About Dominion Resources
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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