Aviance Capital Management LLC increased its position in shares of Dominion Resources Inc. (NYSE:D) by 38.5% during the second quarter, Holdings Channel reports. The firm owned 193,651 shares of the company’s stock after buying an additional 53,874 shares during the period. Aviance Capital Management LLC’s holdings in Dominion Resources were worth $15,091,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of D. Nisa Investment Advisors L.L.C. raised its stake in Dominion Resources by 98.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 101,770 shares of the company’s stock worth $7,645,000 after buying an additional 50,570 shares during the period. Mn Services Vermogensbeheer B.V. bought a new stake in Dominion Resources during the first quarter worth about $981,000. Aperio Group LLC raised its stake in Dominion Resources by 3.2% in the first quarter. Aperio Group LLC now owns 183,994 shares of the company’s stock worth $13,822,000 after buying an additional 5,675 shares during the period. Commonwealth Equity Services Inc raised its stake in Dominion Resources by 6.3% in the first quarter. Commonwealth Equity Services Inc now owns 208,332 shares of the company’s stock worth $15,650,000 after buying an additional 12,412 shares during the period. Finally, River Wealth Advisors LLC raised its stake in Dominion Resources by 0.7% in the first quarter. River Wealth Advisors LLC now owns 35,134 shares of the company’s stock worth $2,639,000 after buying an additional 257 shares during the period. Institutional investors and hedge funds own 63.21% of the company’s stock.
Shares of Dominion Resources Inc. (NYSE:D) traded up 0.08% during mid-day trading on Wednesday, hitting $75.84. The stock had a trading volume of 2,037,478 shares. Dominion Resources Inc. has a 12-month low of $64.54 and a 12-month high of $78.97. The company’s 50 day moving average price is $75.39 and its 200 day moving average price is $74.31. The stock has a market cap of $47.46 billion, a P/E ratio of 23.65 and a beta of 0.14.
Dominion Resources (NYSE:D) last posted 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 business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the business posted $0.73 EPS. Dominion Resources’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts predict that Dominion Resources Inc. will post $3.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 2nd were paid 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 3.69%. Dominion Resources’s payout ratio is presently 87.23%.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Dominion Resources from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Barclays PLC increased their price objective on Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday. Deutsche Bank AG reiterated a “hold” rating and issued a $73.00 price objective on shares of Dominion Resources in a research report on Thursday, August 25th. Canaccord Genuity reiterated a “hold” rating on shares of Dominion Resources in a research report on Friday, August 12th. Finally, Morgan Stanley lowered Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $82.00 to $79.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $77.13.
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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