First Midwest Bank Trust Division increased its position in Dominion Resources Inc. (NYSE:D) by 30.6% during the second quarter, Holdings Channel reports. The institutional investor owned 22,016 shares of the company’s stock after buying an additional 5,155 shares during the period. First Midwest Bank Trust Division’s holdings in Dominion Resources were worth $1,715,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in D. Cribstone Capital Management LLC acquired a new stake in shares of Dominion Resources during the second quarter valued at about $168,000. Kistler Tiffany Companies LLC raised 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 valued at $201,000 after buying an additional 12 shares during the period. Rockland Trust Co. acquired a new stake in shares of Dominion Resources during the second quarter valued at about $202,000. First Merchants Corp acquired a new stake in shares of Dominion Resources during the second quarter valued at about $204,000. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Dominion Resources during the first quarter valued at about $205,000. Hedge funds and other institutional investors own 63.21% of the company’s stock.
Dominion Resources Inc. (NYSE:D) traded down 1.44% during midday trading on Thursday, reaching $74.75. 2,446,539 shares of the company were exchanged. Dominion Resources Inc. has a 52 week low of $64.54 and a 52 week high of $78.97. The firm’s 50 day moving average price is $75.38 and its 200-day moving average price is $74.31. The stock has a market capitalization of $46.78 billion, a P/E ratio of 23.31 and a beta of 0.14.
Dominion Resources (NYSE:D) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. Equities analysts forecast that Dominion Resources Inc. will post $3.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.75%. Dominion Resources’s payout ratio is 87.23%.
D has been the subject of several recent research reports. Deutsche Bank AG restated a “hold” rating and set a $73.00 target price on shares of Dominion Resources in a research report on Thursday, August 25th. Canaccord Genuity restated a “hold” rating on shares of Dominion Resources in a research report on Monday, June 6th. Barclays PLC boosted their target price on shares of Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. downgraded shares of Dominion Resources from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $81.00 in a report on Thursday, June 16th. They noted that the move was a valuation call. Finally, Morgan Stanley downgraded shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $82.00 to $79.00 in a report on Monday, August 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued 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 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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