Grimes & Company Inc. boosted its stake in shares of Dominion Resources Inc. (NYSE:D) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 8,144 shares of the company’s stock after buying an additional 3 shares during the period. Grimes & Company Inc.’s holdings in Dominion Resources were worth $635,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp boosted its stake in Dominion Resources by 0.8% in the fourth quarter. Stifel Financial Corp now owns 138,225 shares of the company’s stock valued at $9,545,000 after buying an additional 1,082 shares during the period. Capstone Asset Management Co. boosted its stake in Dominion Resources by 0.4% in the first quarter. Capstone Asset Management Co. now owns 51,883 shares of the company’s stock valued at $3,897,000 after buying an additional 212 shares during the period. Acadian Asset Management LLC acquired a new stake in Dominion Resources during the first quarter valued at approximately $5,703,000. TNB Financial boosted its stake in Dominion Resources by 109.1% in the first quarter. TNB Financial now owns 10,014 shares of the company’s stock valued at $752,000 after buying an additional 5,224 shares during the period. Finally, Culbertson A N & Co. Inc. acquired a new stake in Dominion Resources during the first quarter valued at approximately $2,138,000. 63.21% of the stock is owned by hedge funds and other institutional investors.
Dominion Resources Inc. (NYSE:D) traded up 0.38% during trading on Thursday, reaching $77.04. The company’s stock had a trading volume of 2,083,062 shares. Dominion Resources Inc. has a 52-week low of $64.54 and a 52-week high of $78.97. The firm has a market capitalization of $48.21 billion, a price-to-earnings ratio of 24.02 and a beta of 0.14. The stock’s 50-day moving average is $75.28 and its 200 day moving average is $74.16.
Dominion Resources (NYSE:D) last announced its earnings results on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Dominion Resources had a return on equity of 14.48% and a net margin of 17.44%. The business earned $2.60 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the business posted $0.73 earnings per share. Dominion Resources’s revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that Dominion Resources Inc. will post $3.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, August 31st. Dominion Resources’s dividend payout ratio is 87.23%.
Several research firms have commented on D. Zacks Investment Research cut Dominion Resources from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Morgan Stanley cut 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. Canaccord Genuity restated a “hold” rating on shares of Dominion Resources in a report on Monday, June 6th. Deutsche Bank AG restated a “hold” rating and issued a $73.00 price target on shares of Dominion Resources in a report on Thursday, August 25th. Finally, BMO Capital Markets restated a “hold” rating and issued a $77.00 price target on shares of Dominion Resources in a report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Dominion Resources presently has a consensus rating of “Hold” and a consensus price target of $77.22.
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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