Ingalls & Snyder LLC Boosts Stake in Dominion Resources Inc. (D)
Ingalls & Snyder LLC boosted its stake in Dominion Resources Inc. (NYSE:D) by 8.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,991 shares of the company’s stock after buying an additional 1,862 shares during the period. Ingalls & Snyder LLC’s holdings in Dominion Resources were worth $1,782,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Squarepoint Ops LLC bought a new position in Dominion Resources during the first quarter worth $625,000. 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 worth $4,356,000 after buying an additional 17,349 shares during the period. Boothbay Fund Management LLC raised its position in Dominion Resources by 79.2% in the first quarter. Boothbay Fund Management LLC now owns 6,980 shares of the company’s stock worth $524,000 after buying an additional 3,084 shares during the period. Iowa State Bank raised its position in Dominion Resources by 1.3% in the second quarter. Iowa State Bank now owns 61,299 shares of the company’s stock worth $4,778,000 after buying an additional 785 shares during the period. Finally, Fulton Bank N.A. raised its position in Dominion Resources by 4.3% in the second quarter. Fulton Bank N.A. now owns 28,096 shares of the company’s stock worth $2,189,000 after buying an additional 1,171 shares during the period. Hedge funds and other institutional investors own 64.73% of the company’s stock.
Shares of Dominion Resources Inc. (NYSE:D) traded up 1.65% during midday trading on Monday, reaching $75.17. The company’s stock had a trading volume of 2,580,249 shares. The firm’s 50 day moving average is $72.97 and its 200 day moving average is $74.43. The firm has a market capitalization of $47.11 billion, a price-to-earnings ratio of 22.66 and a beta of 0.22. Dominion Resources Inc. has a 52 week low of $64.54 and a 52 week high of $78.97.
Dominion Resources (NYSE:D) last released its quarterly earnings results 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. The company earned $3.13 billion during the quarter, compared to the consensus estimate of $3.28 billion. Dominion Resources had a return on equity of 14.48% and a net margin of 18.05%. Dominion Resources’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. Equities analysts forecast 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. Shareholders of record on Friday, December 2nd will be given 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%.
A number of equities analysts have weighed in on the company. Barclays PLC boosted their price objective on Dominion Resources from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, September 26th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $73.00 price target on shares of Dominion Resources in a research note on Thursday, August 25th. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. Morgan Stanley lowered Dominion Resources from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $82.00 to $79.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. Finally, Citigroup Inc. decreased their price target on 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $77.56.
In related news, Director Ron W. Jibson purchased 3,500 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was bought at an average price of $70.98 per share, with a total value of $248,430.00. Following the completion of the transaction, the director now owns 1,142 shares of the company’s stock, valued at approximately $81,059.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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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