Dominion Resources Inc. to Post Q4 2016 Earnings of $0.98 Per Share, KeyCorp Forecasts (D)
Dominion Resources Inc. (NYSE:D) – KeyCorp issued their Q4 2016 earnings per share estimates for Dominion Resources in a report released on Tuesday. KeyCorp analyst P. Ridzon forecasts that the firm will post earnings of $0.98 per share for the quarter. KeyCorp also issued estimates for Dominion Resources’ FY2017 earnings at $3.70 EPS.
Dominion Resources (NYSE:D) last posted its earnings results on Monday, October 31st. The company reported $1.14 earnings per share 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 analyst estimates of $3.28 billion. During the same period in the previous year, the company earned $1.03 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.
Several other research firms have also issued reports on D. Citigroup Inc. reduced their target price on Dominion Resources from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. Barclays PLC increased their price objective on Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, September 26th. Deutsche Bank AG reissued a “hold” rating and set a $73.00 price objective on shares of Dominion Resources in a report on Thursday, August 25th. Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. Finally, Morgan Stanley lowered Dominion Resources from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $82.00 to $79.00 in a report on Monday, August 8th. 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 five have given a buy rating to the stock. Dominion Resources currently has an average rating of “Hold” and an average price target of $75.38.
Shares of Dominion Resources (NYSE:D) opened at 72.87 on Wednesday. The company has a 50-day moving average price of $72.78 and a 200 day moving average price of $74.35. The firm has a market capitalization of $45.67 billion, a price-to-earnings ratio of 21.96 and a beta of 0.22. Dominion Resources has a 12-month low of $64.54 and a 12-month high of $78.97.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Friday, December 2nd will be paid a $0.70 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $2.80 annualized dividend and a dividend yield of 3.84%. Dominion Resources’s payout ratio is presently 84.59%.
In other Dominion Resources news, Director Ron W. Jibson bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The shares were bought at an average cost of $70.98 per share, with a total value of $248,430.00. Following the completion of the purchase, the director now directly owns 1,142 shares of the company’s stock, valued at $81,059.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in shares of Dominion Resources during the first quarter valued at approximately $625,000. Ladenburg Thalmann Financial Services Inc. raised its position in Dominion Resources by 9.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 88,306 shares of the company’s stock valued at $6,635,000 after buying an additional 7,925 shares during the last quarter. Avalon Advisors LLC raised its position in Dominion Resources by 1.8% in the first quarter. Avalon Advisors LLC now owns 273,440 shares of the company’s stock valued at $20,541,000 after buying an additional 4,824 shares during the last quarter. Euclid Advisors LLC raised its position in Dominion Resources by 586.4% in the first quarter. Euclid Advisors LLC now owns 138,918 shares of the company’s stock valued at $10,436,000 after buying an additional 118,678 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its position in Dominion Resources by 42.7% in the first quarter. First Republic Investment Management Inc. now owns 57,976 shares of the company’s stock valued at $4,356,000 after buying an additional 17,349 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.
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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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