Palladium Partners LLC reduced its position in shares of Dominion Resources, Inc. (NYSE:D) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,955 shares of the utilities provider’s stock after selling 1,387 shares during the period. Palladium Partners LLC’s holdings in Dominion Resources were worth $5,969,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of D. Argent Trust Co boosted its position in Dominion Resources by 7.5% in the first quarter. Argent Trust Co now owns 10,102 shares of the utilities provider’s stock worth $784,000 after buying an additional 709 shares during the last quarter. Quantitative Investment Management LLC boosted its stake in shares of Dominion Resources by 14.1% in the first quarter. Quantitative Investment Management LLC now owns 259,200 shares of the utilities provider’s stock valued at $20,106,000 after buying an additional 32,100 shares in the last quarter. Norinchukin Bank The boosted its stake in shares of Dominion Resources by 5.9% in the first quarter. Norinchukin Bank The now owns 46,517 shares of the utilities provider’s stock valued at $3,608,000 after buying an additional 2,597 shares in the last quarter. Shepherd Financial Partners LLC boosted its stake in shares of Dominion Resources by 4.0% in the first quarter. Shepherd Financial Partners LLC now owns 4,761 shares of the utilities provider’s stock valued at $370,000 after buying an additional 185 shares in the last quarter. Finally, Ffcm LLC boosted its stake in shares of Dominion Resources by 7.0% in the first quarter. Ffcm LLC now owns 23,894 shares of the utilities provider’s stock valued at $1,854,000 after buying an additional 1,563 shares in the last quarter. 66.70% of the stock is currently owned by institutional investors.
Shares of Dominion Resources, Inc. (NYSE D) opened at 77.90 on Wednesday. Dominion Resources, Inc. has a 12 month low of $69.51 and a 12 month high of $81.65. The stock’s 50 day moving average is $79.28 and its 200 day moving average is $76.85. The firm has a market cap of $49.00 billion, a PE ratio of 21.81 and a beta of 0.29.
Dominion Resources (NYSE:D) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.49 billion. Dominion Resources had a return on equity of 14.53% and a net margin of 18.29%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. On average, analysts anticipate that Dominion Resources, Inc. will post $3.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Friday, June 2nd were paid a $0.775 dividend. This is a positive change from Dominion Resources’s previous quarterly dividend of $0.76. This represents a $3.10 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Wednesday, May 31st. Dominion Resources’s payout ratio is currently 84.59%.
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Several analysts have recently issued reports on D shares. Zacks Investment Research raised shares of Dominion Resources from a “sell” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Tuesday, April 11th. Morgan Stanley reduced their price target on shares of Dominion Resources from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Monday, May 8th. Tudor Pickering cut shares of Dominion Resources from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. Deutsche Bank AG increased their price target on shares of Dominion Resources from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Finally, Royal Bank Of Canada set a $77.00 price target on shares of Dominion Resources and gave the stock a “hold” rating in a research report on Saturday, June 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Dominion Resources currently has an average rating of “Hold” and a consensus target price of $80.43.
About Dominion Resources
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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