Dominion Resources Inc. (NYSE:D) had its price objective raised by Barclays PLC from $80.00 to $84.00 in a report issued on Monday morning. Barclays PLC currently has an overweight rating on the stock.
A number of other analysts have also issued reports on the stock. Deutsche Bank AG restated a hold rating and issued a $73.00 price target on shares of Dominion Resources in a research note on Thursday, August 25th. Canaccord Genuity restated a hold rating on shares of Dominion Resources in a research note on Friday, August 12th. Morgan Stanley lowered shares of Dominion Resources from an overweight rating to an equal weight rating and dropped their price target for the stock from $82.00 to $79.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Dominion Resources from a hold rating to a sell rating in a research note on Friday, July 22nd. Finally, BMO Capital Markets restated a hold rating and issued a $77.00 price target on shares of Dominion Resources in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $77.13.
Shares of Dominion Resources (NYSE:D) traded up 0.05% during trading on Monday, hitting $76.64. 280,491 shares of the stock were exchanged. The stock has a 50-day moving average of $75.33 and a 200 day moving average of $74.27. The stock has a market cap of $47.96 billion, a P/E ratio of 23.90 and a beta of 0.14. Dominion Resources has a 12-month low of $64.54 and a 12-month high of $78.97.
Dominion Resources (NYSE:D) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.71. The business earned $2.60 billion during the quarter, compared to analyst estimates of $2.99 billion. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Equities analysts predict that Dominion Resources will post $3.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Investors 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 3.66%. The ex-dividend date was Wednesday, August 31st. Dominion Resources’s dividend payout ratio is currently 87.23%.
Several large investors have recently modified their holdings of the stock. Wealthcare Capital Management LLC bought a new stake in shares of Dominion Resources during the second quarter worth $111,000. Advisory Services Network LLC boosted 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 worth $118,000 after buying an additional 191 shares in the last quarter. MCF Advisors LLC boosted 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 worth $118,000 after buying an additional 319 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Dominion Resources during the second quarter worth $119,000. Finally, Point72 Asia Hong Kong Ltd bought a new stake in shares of Dominion Resources during the second quarter worth $125,000. Institutional investors and hedge funds own 63.21% 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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