Dominion Resources Inc. (D) Given New $74.00 Price Target at Citigroup Inc.
Dominion Resources Inc. (NYSE:D) had its target price trimmed by Citigroup Inc. from $78.00 to $74.00 in a research report report published on Tuesday. The firm currently has a neutral rating on the stock.
Other equities research analysts have also issued research reports about the stock. BMO Capital Markets reissued a hold rating and issued a $77.00 price target on shares of Dominion Resources in a report on Wednesday, June 22nd. Zacks Investment Research lowered shares of Dominion Resources from a hold rating to a sell rating in a report on Friday, July 22nd. Canaccord Genuity reissued a hold rating on shares of Dominion Resources in a report on Friday, August 12th. Morgan Stanley lowered 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 report on Monday, August 8th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lowered 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 report on Thursday, June 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Dominion Resources has an average rating of Hold and an average target price of $76.77.
Dominion Resources (NYSE:D) opened at 72.15 on Tuesday. The company’s 50 day moving average is $75.19 and its 200-day moving average is $74.32. Dominion Resources has a 12 month low of $64.54 and a 12 month high of $78.97. The company has a market cap of $45.15 billion, a price-to-earnings ratio of 22.50 and a beta of 0.20.
Dominion Resources (NYSE:D) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The business earned $2.60 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the business posted $0.73 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, analysts expect that Dominion Resources will post $3.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.80 dividend on an annualized basis and a yield of 3.88%. Dominion Resources’s dividend payout ratio (DPR) is presently 87.23%.
Hedge funds have recently added to or reduced their stakes in the company. Wealthcare Capital Management LLC purchased a new stake in Dominion Resources during the second quarter worth $111,000. Advisory Services Network LLC raised its position in shares of 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 raised its position in shares of 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 position in shares of Dominion Resources during the second quarter valued at approximately $119,000. Finally, Point72 Asia Hong Kong Ltd bought a new position in shares of Dominion Resources during the second quarter valued at approximately $125,000. Hedge funds and other institutional investors own 63.21% of the company’s stock.
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.
Receive News & Stock Ratings for Dominion Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dominion Resources Inc. and related stocks with our FREE daily email newsletter.