Dominion Resources Inc. (D) Shares Bought by Capstone Asset Management Co.
Capstone Asset Management Co. increased its position in Dominion Resources Inc. (NYSE:D) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,486 shares of the company’s stock after buying an additional 3,152 shares during the period. Capstone Asset Management Co.’s holdings in Dominion Resources were worth $4,269,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Capital World Investors raised its stake in Dominion Resources by 21.8% in the second quarter. Capital World Investors now owns 25,312,923 shares of the company’s stock valued at $1,972,636,000 after buying an additional 4,536,023 shares in the last quarter. Franklin Resources Inc. raised its stake in Dominion Resources by 23.5% in the second quarter. Franklin Resources Inc. now owns 16,949,508 shares of the company’s stock valued at $1,320,876,000 after buying an additional 3,223,051 shares in the last quarter. Cohen & Steers Inc. raised its stake in Dominion Resources by 241.0% in the second quarter. Cohen & Steers Inc. now owns 4,114,062 shares of the company’s stock valued at $417,289,000 after buying an additional 2,907,439 shares in the last quarter. Vanguard Group Inc. raised its stake in Dominion Resources by 5.9% in the second quarter. Vanguard Group Inc. now owns 39,489,005 shares of the company’s stock valued at $3,077,377,000 after buying an additional 2,211,194 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in Dominion Resources by 9.4% in the second quarter. BlackRock Fund Advisors now owns 14,346,101 shares of the company’s stock valued at $1,117,992,000 after buying an additional 1,230,396 shares in the last quarter. 64.73% of the stock is owned by institutional investors.
Dominion Resources Inc. (NYSE:D) traded up 1.65% during mid-day trading on Monday, hitting $75.17. 2,580,249 shares of the company traded hands. The stock has a market capitalization of $47.11 billion, a price-to-earnings ratio of 22.66 and a beta of 0.22. The company’s 50-day moving average is $72.86 and its 200-day moving average is $74.37. Dominion Resources Inc. has a one year low of $64.54 and a one year high of $78.97.
Dominion Resources (NYSE:D) last released its quarterly earnings data on Monday, October 31st. The company reported $1.14 earnings per share for the quarter, topping the 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 analyst estimates of $3.28 billion. During the same quarter last year, the firm earned $1.03 EPS. Dominion Resources’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts predict that Dominion Resources Inc. will post $3.80 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Friday, December 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Wednesday, November 30th. Dominion Resources’s payout ratio is 84.59%.
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D has been the topic of a number of recent analyst reports. Morgan Stanley lowered shares of Dominion Resources from an “overweight” rating to an “equal weight” rating and cut their price target 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. Canaccord Genuity reiterated a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. Deutsche Bank AG reiterated a “hold” rating and issued a $73.00 price objective on shares of Dominion Resources in a research note on Thursday, August 25th. Barclays PLC upped their price objective on shares of Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, September 26th. Finally, Citigroup Inc. dropped their price objective on shares of Dominion Resources from $78.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Dominion Resources currently has an average rating of “Hold” and an average target price of $77.56.
In other news, Director Ron W. Jibson acquired 3,500 shares of Dominion Resources stock in a transaction that occurred on Thursday, November 10th. The shares were acquired at an average price of $70.98 per share, with a total value of $248,430.00. Following the purchase, the director now directly owns 1,142 shares of the company’s stock, valued at $81,059.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.37% 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.
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