Kanawha Capital Management LLC increased its stake in Dominion Resources Inc. (NYSE:D) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 157,907 shares of the company’s stock after buying an additional 719 shares during the period. Dominion Resources comprises about 2.1% of Kanawha Capital Management LLC’s portfolio, making the stock its 8th largest position. Kanawha Capital Management LLC’s holdings in Dominion Resources were worth $12,306,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in D. FTB Advisors Inc. increased its stake in Dominion Resources by 1.1% in the second quarter. FTB Advisors Inc. now owns 8,063 shares of the company’s stock valued at $628,000 after buying an additional 89 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management bought a new stake in Dominion Resources during the second quarter valued at $268,000. Nordea Investment Management AB increased its stake in Dominion Resources by 12.6% in the second quarter. Nordea Investment Management AB now owns 26,195 shares of the company’s stock valued at $2,041,000 after buying an additional 2,932 shares during the last quarter. Independent Investors Inc. increased its stake in Dominion Resources by 31.0% in the second quarter. Independent Investors Inc. now owns 5,500 shares of the company’s stock valued at $428,000 after buying an additional 1,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Dominion Resources by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,710,705 shares of the company’s stock valued at $133,315,000 after buying an additional 6,043 shares during the last quarter. 63.19% of the stock is owned by institutional investors.
Dominion Resources Inc. (NYSE:D) traded down 0.12% on Wednesday, reaching $73.28. 1,437,957 shares of the company’s stock traded hands. Dominion Resources Inc. has a 52-week low of $64.54 and a 52-week high of $78.97. The stock has a market capitalization of $45.86 billion, a PE ratio of 22.85 and a beta of 0.20. The firm’s 50-day moving average is $74.18 and its 200 day moving average is $74.20.
Dominion Resources (NYSE:D) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The firm 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 firm earned $0.73 EPS. The business’s revenue was down 5.4% on a year-over-year basis. Analysts forecast that Dominion Resources Inc. will post $3.79 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, August 31st. Dominion Resources’s dividend payout ratio (DPR) is presently 87.23%.
Several research firms have recently weighed in on D. Citigroup Inc. dropped their target price on shares of Dominion Resources from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. Barclays PLC boosted their target price on shares of Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, September 26th. Deutsche Bank AG reissued a “hold” rating and issued a $73.00 target price on shares of Dominion Resources in a research report on Thursday, August 25th. Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a research report on Friday, August 12th. Finally, Morgan Stanley downgraded shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $82.00 to $79.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the 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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