Dominion Resources Inc. (D) to Issue Quarterly Dividend of $0.70 on December 20th
Dominion Resources Inc. (NYSE:D) declared a quarterly dividend on Friday, October 28th. Stockholders of record on Friday, December 2nd will be given a dividend of 0.70 per share on Tuesday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, November 30th.
Dominion Resources (NYSE:D) opened at 75.17 on Tuesday. The stock has a 50 day moving average price of $72.97 and a 200-day moving average price of $74.43. The stock has a market cap of $47.11 billion, a PE ratio of 22.66 and a beta of 0.22. Dominion Resources has a 1-year low of $64.54 and a 1-year high of $78.97.
Dominion Resources (NYSE:D) last issued 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 return on equity of 14.48% and a net margin of 18.05%. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Dominion Resources will post $3.80 EPS for the current year.
Several equities research analysts have weighed in on D shares. 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. Citigroup Inc. cut their target price 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. Barclays PLC upped their target price on Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, September 26th. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. Finally, Morgan Stanley cut Dominion Resources from an “overweight” rating to an “equal weight” rating and cut their target price 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $77.56.
In other news, Director Ron W. Jibson purchased 3,500 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was purchased at an average price of $70.98 per share, for a total transaction of $248,430.00. Following the completion of the acquisition, the director now 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 available at this hyperlink. 0.37% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Dominion Resources by 0.8% in the second quarter. State Street Corp now owns 29,919,066 shares of the company’s stock valued at $2,331,590,000 after buying an additional 231,476 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of 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. FMR LLC raised its stake in shares of Dominion Resources by 15.3% in the second quarter. FMR LLC now owns 6,329,264 shares of the company’s stock valued at $493,240,000 after buying an additional 838,072 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Dominion Resources by 7.8% in the second quarter. TIAA CREF Investment Management LLC now owns 2,452,102 shares of the company’s stock valued at $191,092,000 after buying an additional 177,762 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Dominion Resources by 6.5% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,777,626 shares of the company’s stock valued at $138,530,000 after buying an additional 108,276 shares in the last quarter. Institutional investors own 64.73% of the company’s stock.
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About Dominion Resources
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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