Dominion Resources, Inc. (D) Receives Average Recommendation of “Hold” from Brokerages
Shares of Dominion Resources, Inc. (NYSE:D) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the stock. Nine equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $80.11.
A number of analysts have recently commented on the stock. Zacks Investment Research lowered shares of Dominion Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, March 15th. Credit Suisse Group AG assumed coverage on shares of Dominion Resources in a research note on Wednesday, January 25th. They issued an “outperform” rating and a $81.00 price target for the company. Tudor Pickering lowered shares of Dominion Resources from a “buy” rating to a “hold” rating in a research note on Monday, April 3rd. Deutsche Bank AG lifted their price target on shares of Dominion Resources from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $89.00 price target (up from $80.00) on shares of Dominion Resources in a research note on Sunday, April 23rd.
In related news, Director John W. Harris sold 5,697 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $76.55, for a total value of $436,105.35. Following the transaction, the director now owns 22,503 shares of the company’s stock, valued at $1,722,604.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.37% of the company’s stock.
Several institutional investors have recently bought and sold shares of D. Norway Savings Bank acquired a new position in Dominion Resources during the fourth quarter worth about $100,000. Tradewinds Capital Management LLC increased its position in Dominion Resources by 1.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,306 shares of the utilities provider’s stock worth $101,000 after buying an additional 13 shares during the last quarter. Enterprise Financial Services Corp increased its position in Dominion Resources by 62.6% in the first quarter. Enterprise Financial Services Corp now owns 1,376 shares of the utilities provider’s stock worth $107,000 after buying an additional 530 shares during the last quarter. Clean Yield Group acquired a new position in Dominion Resources during the first quarter worth about $117,000. Finally, Bollard Group LLC increased its position in Dominion Resources by 0.9% in the first quarter. Bollard Group LLC now owns 1,516 shares of the utilities provider’s stock worth $118,000 after buying an additional 13 shares during the last quarter. 65.93% of the stock is currently owned by institutional investors.
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Dominion Resources (NYSE:D) traded up 0.46% during mid-day trading on Tuesday, reaching $80.07. 915,058 shares of the company were exchanged. The stock has a market capitalization of $50.36 billion, a price-to-earnings ratio of 22.42 and a beta of 0.25. Dominion Resources has a 1-year low of $69.51 and a 1-year high of $80.36. The stock’s 50-day moving average price is $77.75 and its 200-day moving average price is $75.74.
Dominion Resources (NYSE:D) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.49 billion. Dominion Resources had a net margin of 18.09% and a return on equity of 15.42%. Dominion Resources’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. On average, equities research analysts anticipate that Dominion Resources will post $3.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Friday, June 2nd will be issued a $0.775 dividend. This is an increase from Dominion Resources’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, May 31st. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.89%. Dominion Resources’s dividend payout ratio (DPR) is presently 81.40%.
About Dominion Resources
Dominion Resources, Inc (Dominion) is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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