KeyCorp Comments on Dominion Resources Inc.’s Q3 2016 Earnings (D)
Dominion Resources Inc. (NYSE:D) – Equities researchers at KeyCorp issued their Q3 2016 earnings per share estimates for shares of Dominion Resources in a research report issued on Monday. KeyCorp analyst P. Ridzon expects that the brokerage will post earnings per share of $1.07 for the quarter. KeyCorp also issued estimates for Dominion Resources’ FY2016 earnings at $3.85 EPS.
Dominion Resources (NYSE:D) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.71. The company earned $2.60 billion during the quarter, compared to the consensus estimate of $2.99 billion. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. Dominion Resources’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.73 EPS.
D has been the subject of several other reports. Citigroup Inc. decreased their target price on shares of Dominion Resources from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $73.00 target price on shares of Dominion Resources in a report on Thursday, August 25th. Barclays PLC boosted their price objective on shares of Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, September 26th. Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. Finally, Morgan Stanley cut shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and decreased 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. One equities 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’s stock. The company has an average rating of “Hold” and a consensus price target of $76.77.
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Dominion Resources (NYSE:D) traded down 0.27% on Wednesday, reaching $73.17. 602,426 shares of the company traded hands. The stock’s 50-day moving average is $74.18 and its 200-day moving average is $74.20. Dominion Resources has a 1-year low of $64.54 and a 1-year high of $78.97. The stock has a market capitalization of $45.79 billion, a price-to-earnings ratio of 22.82 and a beta of 0.20.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were given 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 dividend yield of 3.82%. Dominion Resources’s payout ratio is currently 87.23%.
Several institutional investors have recently bought and sold shares of D. Citizens Financial Group Inc RI raised its position in Dominion Resources by 2.3% in the first quarter. Citizens Financial Group Inc RI now owns 14,439 shares of the company’s stock worth $1,084,000 after buying an additional 325 shares during the last quarter. Wellington Management Group LLP raised its position 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 worth $2,161,888,000 after buying an additional 2,689,111 shares in the last quarter. Simmons Bank bought a new position in shares of Dominion Resources during the first quarter worth $2,064,000. Geode Capital Management LLC raised its position 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 worth $360,645,000 after buying an additional 106,946 shares in the last quarter. Finally, AXA raised its position in shares of Dominion Resources by 9.9% in the first quarter. AXA now owns 449,957 shares of the company’s stock worth $33,801,000 after buying an additional 40,361 shares in the last quarter. Institutional investors and hedge funds own 63.19% of the company’s stock.
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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