Today: PNC Financial Services Group Inc. decreases its position in Dominion Resources Inc. (D)

Today: PNC Financial Services Group Inc. decreases its position in Dominion Resources Inc. (D)

PNC Financial Services Group Inc. cut its stake in Dominion Resources Inc. (NYSE:D) by 2.1% during the third quarter, Holdings Channel reports. The institutional investor owned 2,191,077 shares of the company’s stock after selling 47,636 shares during the period. PNC Financial Services Group Inc. owned about 0.35% of Dominion Resources worth $162,730,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in D. Exxonmobil Investment Management Inc. TX increased its position in Dominion Resources by 9.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 159,508 shares of the company’s stock valued at $12,430,000 after buying an additional 14,295 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Dominion Resources by 5.8% in the second quarter. CHICAGO TRUST Co NA now owns 5,457 shares of the company’s stock valued at $425,000 after buying an additional 300 shares during the last quarter. DNB Asset Management AS increased its position in Dominion Resources by 13.9% in the second quarter. DNB Asset Management AS now owns 60,461 shares of the company’s stock valued at $4,712,000 after buying an additional 7,400 shares during the last quarter. NEXT Financial Group Inc increased its position in Dominion Resources by 43.5% in the second quarter. NEXT Financial Group Inc now owns 4,323 shares of the company’s stock valued at $336,000 after buying an additional 1,310 shares during the last quarter. Finally, Park National Corp OH increased its position in Dominion Resources by 1.2% in the second quarter. Park National Corp OH now owns 31,511 shares of the company’s stock valued at $2,456,000 after buying an additional 359 shares during the last quarter. 64.73% of the stock is owned by institutional investors.

Dominion Resources Inc. (NYSE:D) traded up 1.66% during mid-day trading on Monday, reaching $75.18. The company’s stock had a trading volume of 1,255,919 shares. The firm’s 50 day moving average price is $72.86 and its 200 day moving average price is $74.37. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 22.66 and a beta of 0.22. Dominion Resources Inc. has a 12-month low of $64.54 and a 12-month high of $78.97.

Dominion Resources (NYSE:D) last issued its quarterly earnings results on Monday, October 31st. The company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.02. Dominion Resources had a return on equity of 14.48% and a net margin of 18.05%. The firm earned $3.13 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts predict that Dominion Resources Inc. will post $3.80 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Friday, December 2nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Wednesday, November 30th. Dominion Resources’s payout ratio is 84.59%.

D has been the subject of a number of research reports. Barclays PLC increased their target price on Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, September 26th. Deutsche Bank AG reiterated 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 reiterated a “hold” rating on shares of Dominion Resources in a research report on Friday, August 12th. Morgan Stanley downgraded Dominion Resources from an “overweight” rating to an “equal weight” rating and lowered their target price 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. Finally, Citigroup Inc. lowered their price target on Dominion Resources from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $77.56.

In other news, Director Ron W. Jibson purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was purchased at an average cost of $70.98 per share, for a total transaction of $248,430.00. Following the completion of the transaction, the director now owns 1,142 shares of the company’s stock, valued at $81,059.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

About Dominion Resources

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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