Chemung Canal Trust Co. decreased its position in shares of Dominion Resources Inc. (NYSE:D) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 38,337 shares of the company’s stock after selling 1,670 shares during the period. Chemung Canal Trust Co.’s holdings in Dominion Resources were worth $2,988,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC increased its position 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 during the period. Cribstone Capital Management LLC acquired a new stake in shares of Dominion Resources during the second quarter worth $168,000. Kistler Tiffany Companies LLC increased its stake 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 worth $201,000 after buying an additional 12 shares during the last quarter. Rockland Trust Co. acquired a new stake in shares of Dominion Resources during the second quarter worth $202,000. Finally, First Merchants Corp acquired a new stake in shares of Dominion Resources during the second quarter worth $204,000. 63.19% of the stock is currently owned by hedge funds and other institutional investors.
Dominion Resources Inc. (NYSE:D) traded down 0.1994% on Wednesday, reaching $73.2237. The company’s stock had a trading volume of 1,163,897 shares. The stock has a market cap of $45.82 billion, a PE ratio of 22.8325 and a beta of 0.20. 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 $74.18 and its 200-day moving average price is $74.20.
Dominion Resources (NYSE:D) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.71. Dominion Resources had a return on equity of 14.48% and a net margin of 17.44%. The company earned $2.60 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts expect that Dominion Resources Inc. will post $3.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 2nd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Wednesday, August 31st. Dominion Resources’s dividend payout ratio (DPR) is presently 87.23%.
D has been the subject of a number of research analyst reports. Canaccord Genuity reiterated a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. BMO Capital Markets reiterated a “hold” rating and issued a $77.00 target price on shares of Dominion Resources in a report on Wednesday, June 22nd. Deutsche Bank AG reiterated a “hold” rating and issued a $73.00 target price on shares of Dominion Resources in a report on Thursday, August 25th. Citigroup Inc. lowered their target price on Dominion Resources from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. Finally, Morgan Stanley downgraded Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their target price 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. One 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 currently has a consensus rating of “Hold” and an average price target of $76.77.
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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