Mandatum Life Insurance Co Ltd continued to hold its position in shares of Dominion Resources, Inc. (NYSE:D) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,232 shares of the utilities provider’s stock at the end of the first quarter. Mandatum Life Insurance Co Ltd’s holdings in Dominion Resources were worth $406,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Palisade Capital Management LLC NJ increased its position in shares of Dominion Resources by 1.9% in the first quarter. Palisade Capital Management LLC NJ now owns 6,805 shares of the utilities provider’s stock worth $528,000 after buying an additional 130 shares in the last quarter. City Holding Co. increased its position in shares of Dominion Resources by 4.4% in the first quarter. City Holding Co. now owns 22,744 shares of the utilities provider’s stock worth $1,764,000 after buying an additional 950 shares in the last quarter. Bank of Montreal Can increased its position in shares of Dominion Resources by 6.8% in the first quarter. Bank of Montreal Can now owns 432,917 shares of the utilities provider’s stock worth $33,581,000 after buying an additional 27,629 shares in the last quarter. Coastline Trust Co increased its position in shares of Dominion Resources by 4.0% in the first quarter. Coastline Trust Co now owns 12,319 shares of the utilities provider’s stock worth $956,000 after buying an additional 475 shares in the last quarter. Finally, BB&T Corp increased its position in shares of Dominion Resources by 3.5% in the first quarter. BB&T Corp now owns 122,663 shares of the utilities provider’s stock worth $9,516,000 after buying an additional 4,101 shares in the last quarter. Institutional investors and hedge funds own 66.70% of the company’s stock.
Shares of Dominion Resources, Inc. (D) opened at 77.05 on Thursday. The firm has a market cap of $48.46 billion, a PE ratio of 21.57 and a beta of 0.29. Dominion Resources, Inc. has a 52-week low of $69.51 and a 52-week high of $81.65. The company’s 50-day moving average price is $79.28 and its 200-day moving average price is $76.85.
Dominion Resources (NYSE:D) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. The business had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Dominion Resources had a net margin of 18.29% and a return on equity of 14.53%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Equities analysts expect that Dominion Resources, Inc. will post $3.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Friday, June 2nd were issued a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Wednesday, May 31st. This is a boost from Dominion Resources’s previous quarterly dividend of $0.76. Dominion Resources’s dividend payout ratio is 84.59%.
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A number of research analysts have recently weighed in on the company. BidaskClub downgraded Dominion Resources from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Zacks Investment Research downgraded Dominion Resources from a “hold” rating to a “sell” rating in a report on Monday, June 12th. Royal Bank Of Canada set a $77.00 price target on Dominion Resources and gave the company a “hold” rating in a report on Saturday, June 3rd. Morgan Stanley lowered their price target on Dominion Resources from $81.00 to $79.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Finally, Barclays PLC reiterated an “overweight” rating and set a $89.00 price target (up previously from $80.00) on shares of Dominion Resources in a report on Sunday, April 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $80.43.
About Dominion Resources
Dominion Energy, Inc, formerly Dominion Resources, Inc, 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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