Dominion Resources Inc. (D) Director Acquires $248,430.00 in Stock
Dominion Resources Inc. (NYSE:D) Director Ron W. Jibson bought 3,500 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were bought at an average cost of $70.98 per share, for a total transaction of $248,430.00. Following the purchase, the director now owns 1,142 shares of the company’s stock, valued at approximately $81,059.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Dominion Resources Inc. (NYSE:D) opened at 71.03 on Friday. Dominion Resources Inc. has a 12-month low of $64.54 and a 12-month high of $78.97. The firm has a market cap of $44.52 billion, a price-to-earnings ratio of 21.41 and a beta of 0.22. The company has a 50-day moving average of $72.92 and a 200 day moving average of $74.33.
Dominion Resources (NYSE:D) last posted its earnings results on Monday, October 31st. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Dominion Resources Inc. will post $3.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Friday, December 2nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Wednesday, November 30th. Dominion Resources’s payout ratio is 84.59%.
A number of research firms have weighed in on D. Zacks Investment Research cut shares of Dominion Resources from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. Morgan Stanley cut shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and decreased their target price 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. Barclays PLC boosted their target price 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. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $73.00 target price 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 given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $75.38.
Institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Dominion Resources by 3.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,192,305 shares of the company’s stock worth $88,552,000 after buying an additional 43,730 shares during the last quarter. OLD Republic International Corp raised its position in shares of Dominion Resources by 56.5% in the third quarter. OLD Republic International Corp now owns 368,500 shares of the company’s stock worth $24,969,000 after buying an additional 133,000 shares during the last quarter. High Falls Advisors Inc bought a new position in shares of Dominion Resources during the third quarter worth approximately $659,000. Crow Point Partners LLC bought a new position in shares of Dominion Resources during the third quarter worth approximately $19,332,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Dominion Resources during the third quarter worth approximately $272,000. 63.47% of the stock is currently owned by hedge funds and other institutional investors.
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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