Short Interest in Dominion Resources Inc. (D) Decreases By 24.0%
Dominion Resources Inc. (NYSE:D) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 16,484,849 shares, a decline of 24.0% from the August 31st total of 21,677,374 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 2,392,584 shares, the short-interest ratio is currently 6.9 days.
Several equities analysts recently commented on D shares. Deutsche Bank AG reaffirmed a “hold” rating and set a $73.00 price objective on shares of Dominion Resources in a research note on Thursday, August 25th. Barclays PLC boosted their price target on shares of Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, September 26th. Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a research note on Monday, June 6th. JPMorgan Chase & Co. cut shares of Dominion Resources from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $76.00 to $81.00 in a research note on Thursday, June 16th. They noted that the move was a valuation call. Finally, Morgan Stanley cut shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $82.00 to $79.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Dominion Resources presently has a consensus rating of “Hold” and an average target price of $77.13.
A number of institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors L.L.C. raised its stake in shares of Dominion Resources by 98.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 101,770 shares of the company’s stock worth $7,645,000 after buying an additional 50,570 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of Dominion Resources during the first quarter worth $725,000. IFP Advisors Inc raised its stake in shares of Dominion Resources by 16.4% in the first quarter. IFP Advisors Inc now owns 44,586 shares of the company’s stock worth $3,349,000 after buying an additional 6,296 shares during the last quarter. Carderock Capital Management Inc. raised its stake in shares of Dominion Resources by 6.8% in the first quarter. Carderock Capital Management Inc. now owns 7,869 shares of the company’s stock worth $591,000 after buying an additional 504 shares during the last quarter. Finally, Icon Advisers Inc. Co. raised its stake in shares of Dominion Resources by 35.0% in the first quarter. Icon Advisers Inc. Co. now owns 10,800 shares of the company’s stock worth $811,000 after buying an additional 2,800 shares during the last quarter. Institutional investors own 63.21% of the company’s stock.
Shares of Dominion Resources (NYSE:D) opened at 74.27 on Friday. The company’s 50-day moving average is $75.35 and its 200-day moving average is $74.33. Dominion Resources has a 12-month low of $64.54 and a 12-month high of $78.97. The company has a market capitalization of $46.48 billion, a price-to-earnings ratio of 23.16 and a beta of 0.14.
Dominion Resources (NYSE:D) last posted its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share (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 company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts predict that Dominion Resources will post $3.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $2.80 annualized dividend and a yield of 3.77%. Dominion Resources’s dividend payout ratio (DPR) is presently 87.23%.
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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