Kanawha Capital Management LLC Increases Stake in Dominion Resources Inc. (D)
Kanawha Capital Management LLC boosted its position in Dominion Resources Inc. (NYSE:D) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 157,907 shares of the company’s stock after buying an additional 719 shares during the period. Dominion Resources makes up 2.1% of Kanawha Capital Management LLC’s portfolio, making the stock its 8th largest position. Kanawha Capital Management LLC’s holdings in Dominion Resources were worth $12,306,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake 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 during the last quarter. Cribstone Capital Management LLC acquired a new position in Dominion Resources during the second quarter valued at approximately $168,000. Kistler Tiffany Companies LLC raised its position in Dominion Resources by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,585 shares of the company’s stock valued at $201,000 after buying an additional 12 shares during the period. Rockland Trust Co. acquired a new position in Dominion Resources during the second quarter valued at approximately $202,000. Finally, First Merchants Corp acquired a new position in Dominion Resources during the second quarter valued at approximately $204,000. Institutional investors own 63.19% of the company’s stock.
Shares of Dominion Resources Inc. (NYSE:D) traded down 0.12% during midday trading on Wednesday, reaching $73.28. 1,437,957 shares of the company were exchanged. The stock has a market capitalization of $45.86 billion, a price-to-earnings ratio of 22.85 and a beta of 0.20. The company’s 50-day moving average price is $74.18 and its 200 day moving average price is $74.20. Dominion Resources Inc. has a 52-week low of $64.54 and a 52-week high of $78.97.
Dominion Resources (NYSE:D) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The firm 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 business posted $0.73 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Dominion Resources Inc. will post $3.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd were issued a $0.70 dividend. 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 3.82%. Dominion Resources’s dividend payout ratio is currently 87.23%.
D has been the topic of several research reports. BMO Capital Markets reaffirmed a “hold” rating and set a $77.00 price objective on shares of Dominion Resources in a report on Wednesday, June 22nd. Morgan Stanley lowered Dominion Resources from an “overweight” rating to an “equal weight” rating and dropped their price objective 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. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. Citigroup Inc. dropped their price objective on Dominion Resources from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. Finally, Barclays PLC raised their price objective on Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, September 26th. One research 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. Dominion Resources currently has a consensus rating of “Hold” and an average target price of $76.77.
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.
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