Raymond James Trust N.A. raised its stake in shares of Dominion Resources Inc. (NYSE:D) by 7.2% during the third quarter, Holdings Channel reports. The firm owned 35,761 shares of the company’s stock after buying an additional 2,390 shares during the period. Raymond James Trust N.A.’s holdings in Dominion Resources were worth $2,656,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealthcare Capital Management LLC bought a new stake in Dominion Resources during the second quarter valued at $111,000. Advisory Services Network LLC increased its stake in Dominion Resources by 14.4% in the second quarter. Advisory Services Network LLC now owns 1,513 shares of the company’s stock valued at $118,000 after buying an additional 191 shares in the last quarter. MCF Advisors LLC increased its stake in Dominion Resources by 26.6% in the second quarter. MCF Advisors LLC now owns 1,516 shares of the company’s stock valued at $118,000 after buying an additional 319 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Dominion Resources during the second quarter valued at $119,000. Finally, Point72 Asia Hong Kong Ltd bought a new stake in Dominion Resources during the second quarter valued at $125,000. Institutional investors and hedge funds own 64.25% of the company’s stock.
Dominion Resources Inc. (NYSE:D) traded up 1.48% during trading on Friday, reaching $73.95. 1,392,659 shares of the company’s stock traded hands. The company has a market cap of $46.35 billion, a PE ratio of 22.29 and a beta of 0.22. The company has a 50 day moving average price of $72.86 and a 200-day moving average price of $74.37. Dominion Resources Inc. has a 12-month low of $64.54 and a 12-month high of $78.97.
Dominion Resources (NYSE:D) last posted its quarterly earnings results on Monday, October 31st. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.02. Dominion Resources had a net margin of 18.05% and a return on equity of 14.48%. The business earned $3.13 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Dominion Resources Inc. will post $3.80 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Friday, December 2nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.80 annualized dividend and a dividend yield of 3.79%. Dominion Resources’s dividend payout ratio (DPR) is 84.59%.
Several analysts have recently weighed in on D shares. Morgan Stanley downgraded shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $82.00 to $79.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. Barclays PLC lifted their price target on shares of Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, September 26th. Citigroup Inc. decreased their price target on shares of Dominion Resources from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, October 4th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $73.00 price objective on shares of Dominion Resources in a research note on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Dominion Resources currently has a consensus rating of “Hold” and an average target price of $75.38.
In other news, Director Ron W. Jibson purchased 3,500 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was acquired at an average price of $70.98 per share, with a total value of $248,430.00. Following the purchase, the director now directly owns 1,142 shares in the company, valued at approximately $81,059.16. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.
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.