Dominion Resources Inc. (D) Position Raised by Princeton Capital Management Inc.
Princeton Capital Management Inc. raised its position in shares of Dominion Resources Inc. (NYSE:D) by 16.9% during the second quarter, Holdings Channel reports. The fund owned 3,845 shares of the company’s stock after buying an additional 556 shares during the period. Princeton Capital Management Inc.’s holdings in Dominion Resources were worth $300,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of D. Stifel Financial Corp boosted its position in Dominion Resources by 0.8% in the fourth quarter. Stifel Financial Corp now owns 138,225 shares of the company’s stock valued at $9,545,000 after buying an additional 1,082 shares during the last quarter. Capstone Asset Management Co. boosted its position in Dominion Resources by 0.4% in the first quarter. Capstone Asset Management Co. now owns 51,883 shares of the company’s stock valued at $3,897,000 after buying an additional 212 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Dominion Resources during the first quarter valued at $5,703,000. TNB Financial boosted its position in Dominion Resources by 109.1% in the first quarter. TNB Financial now owns 10,014 shares of the company’s stock valued at $752,000 after buying an additional 5,224 shares during the last quarter. Finally, Culbertson A N & Co. Inc. purchased a new position in Dominion Resources during the first quarter valued at $2,138,000. 63.21% of the stock is currently owned by institutional investors and hedge funds.
Dominion Resources Inc. (NYSE:D) traded up 1.48% during mid-day trading on Wednesday, hitting $76.75. 2,784,743 shares of the stock were exchanged. The company’s 50-day moving average price is $75.27 and its 200 day moving average price is $74.14. Dominion Resources Inc. has a 52 week low of $64.54 and a 52 week high of $78.97. The firm has a market capitalization of $48.03 billion, a price-to-earnings ratio of 23.93 and a beta of 0.14.
Dominion Resources (NYSE:D) last released its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company earned $0.73 EPS. Dominion Resources’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts expect that Dominion Resources Inc. will post $3.79 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 2nd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Wednesday, August 31st. Dominion Resources’s dividend payout ratio (DPR) is 87.23%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Dominion Resources from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Deutsche Bank AG reissued a “hold” rating and issued a $73.00 target price on shares of Dominion Resources in a research note on Thursday, August 25th. Canaccord Genuity reissued a “hold” rating on shares of Dominion Resources in a research note on Friday, August 12th. Morgan Stanley cut Dominion Resources from an “overweight” rating to an “equal weight” rating and reduced 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. Finally, BMO Capital Markets reissued a “hold” rating and issued a $77.00 target price on shares of Dominion Resources in a research note on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $77.22.
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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