Dividend Assets Capital LLC Continues to Hold Position in Dominion Resources Inc. (D)

Dividend Assets Capital LLC held its position in Dominion Resources Inc. (NYSE:D) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,411 shares of the company’s stock at the end of the second quarter. Dividend Assets Capital LLC’s holdings in Dominion Resources were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of D. Cribstone Capital Management LLC bought a new position in Dominion Resources during the second quarter worth $168,000. Kistler Tiffany Companies LLC raised its position in shares of Dominion Resources by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,585 shares of the company’s stock valued at $201,000 after buying an additional 12 shares during the last quarter. Rockland Trust Co. acquired a new position in shares of Dominion Resources during the second quarter valued at approximately $202,000. First Merchants Corp acquired a new position in shares of Dominion Resources during the second quarter valued at approximately $204,000. Finally, Rehmann Capital Advisory Group acquired a new position in shares of Dominion Resources during the first quarter valued at approximately $205,000. 63.21% of the stock is owned by institutional investors and hedge funds.

Shares of Dominion Resources Inc. (NYSE:D) traded down 1.44% during mid-day trading on Thursday, reaching $74.75. The company’s stock had a trading volume of 2,446,539 shares. The company has a 50-day moving average price of $75.39 and a 200 day moving average price of $74.31. The company has a market cap of $46.78 billion, a PE ratio of 23.31 and a beta of 0.14. Dominion Resources Inc. has a 52-week low of $64.54 and a 52-week high of $78.97.

Dominion Resources (NYSE:D) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.71. The firm earned $2.60 billion during the quarter, compared to analyst estimates of $2.99 billion. Dominion Resources had a return on equity of 14.48% and a net margin of 17.44%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. Equities analysts expect that Dominion Resources Inc. will post $3.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Wednesday, August 31st. Dominion Resources’s payout ratio is 87.23%.

Several brokerages have recently commented on D. Zacks Investment Research lowered Dominion Resources from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Barclays PLC boosted their price objective on Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley lowered Dominion Resources from an “overweight” rating to an “equal weight” rating and cut 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. Finally, 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $77.13.

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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