Farmers Trust Co. reduced its stake in Dominion Resources, Inc. (NYSE:D) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,462 shares of the company’s stock after selling 938 shares during the period. Farmers Trust Co.’s holdings in Dominion Resources were worth $657,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in D. Norges Bank bought a new stake in Dominion Resources during the fourth quarter valued at approximately $329,937,000. Commonwealth Bank of Australia raised its stake in Dominion Resources by 48,279.6% in the third quarter. Commonwealth Bank of Australia now owns 2,576,696 shares of the company’s stock valued at $191,370,000 after buying an additional 2,571,370 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in Dominion Resources by 7,922.0% in the third quarter. Epoch Investment Partners Inc. now owns 1,924,065 shares of the company’s stock valued at $142,900,000 after buying an additional 1,900,080 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Dominion Resources by 1,131.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,103,369 shares of the company’s stock valued at $84,540,000 after buying an additional 1,013,750 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Dominion Resources during the fourth quarter valued at approximately $68,024,000. Institutional investors and hedge funds own 65.93% of the company’s stock.
Dominion Resources, Inc. (NYSE:D) traded down 0.31% on Thursday, reaching $77.69. The company had a trading volume of 1,150,916 shares. The company’s 50-day moving average is $77.13 and its 200-day moving average is $74.88. Dominion Resources, Inc. has a 52-week low of $68.71 and a 52-week high of $79.36. The company has a market capitalization of $48.80 billion, a PE ratio of 22.58 and a beta of 0.25.
Dominion Resources (NYSE:D) last announced its earnings results on Wednesday, February 1st. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.00 by $0.01. Dominion Resources had a net margin of 18.09% and a return on equity of 15.42%. The company earned $3.08 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities analysts anticipate that Dominion Resources, Inc. will post $3.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 20th. Investors of record on Friday, March 3rd were paid a $0.755 dividend. The ex-dividend date was Wednesday, March 1st. This is an increase from Dominion Resources’s previous quarterly dividend of $0.70. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.88%. Dominion Resources’s payout ratio is 81.40%.
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Several brokerages have recently weighed in on D. Zacks Investment Research downgraded Dominion Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, March 21st. Credit Suisse Group AG began coverage on Dominion Resources in a research note on Wednesday, January 25th. They set an “outperform” rating and a $81.00 target price for the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $79.00 target price on shares of Dominion Resources in a research note on Wednesday, January 4th. Evercore ISI began coverage on Dominion Resources in a research note on Thursday, January 5th. They set a “hold” rating for the company. Finally, Deutsche Bank AG upped their target price on Dominion Resources from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $79.64.
In other Dominion Resources news, Director Susan N. Story purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were purchased at an average cost of $71.90 per share, for a total transaction of $71,900.00. Following the completion of the purchase, the director now directly owns 1,562 shares in the company, valued at $112,307.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John W. Harris sold 5,697 shares of Dominion Resources stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $76.55, for a total value of $436,105.35. Following the completion of the sale, the director now owns 22,503 shares in the company, valued at $1,722,604.65. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.
About Dominion Resources
Dominion Resources, Inc (Dominion) is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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