Dominion Resources Inc. (D) Shares Sold by E&G Advisors LP
E&G Advisors LP cut its stake in Dominion Resources Inc. (NYSE:D) by 30.8% during the second quarter, Holdings Channel reports. The institutional investor owned 16,329 shares of the company’s stock after selling 7,271 shares during the period. Dominion Resources accounts for 0.8% of E&G Advisors LP’s portfolio, making the stock its 28th largest position. E&G Advisors LP’s holdings in Dominion Resources were worth $1,273,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. Cribstone Capital Management LLC acquired a new stake in shares of Dominion Resources during the second quarter valued at $168,000. Kistler Tiffany Companies LLC increased its position in shares of Dominion Resources by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,585 shares of the company’s stock valued at $201,000 after buying an additional 12 shares in the last quarter. Rockland Trust Co. purchased a new position in shares of Dominion Resources during the second quarter valued at about $202,000. Rehmann Capital Advisory Group purchased a new position in shares of Dominion Resources during the first quarter valued at about $205,000. Finally, Duncker Streett & Co. Inc. increased its position in shares of Dominion Resources by 19.2% in the second quarter. Duncker Streett & Co. Inc. now owns 2,727 shares of the company’s stock valued at $213,000 after buying an additional 440 shares in the last quarter. Institutional investors own 63.41% of the company’s stock.
Shares of Dominion Resources Inc. (NYSE:D) traded up 1.12% on Monday, reaching $75.90. 2,133,317 shares of the company were exchanged. Dominion Resources Inc. has a 12 month low of $64.54 and a 12 month high of $78.97. The company has a market cap of $47.50 billion, a price-to-earnings ratio of 23.67 and a beta of 0.14. The company’s 50-day moving average price is $75.34 and its 200 day moving average price is $74.09.
Dominion Resources (NYSE:D) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71. Dominion Resources had a net margin of 17.44% and a return on equity of 14.48%. The business earned $2.60 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm posted $0.73 EPS. Dominion Resources’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Dominion Resources Inc. will post $3.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Wednesday, August 31st. Dominion Resources’s dividend payout ratio is 87.23%.
D has been the subject of several analyst reports. Bank of America Corp. reissued a “buy” rating on shares of Dominion Resources in a report on Tuesday, May 24th. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a research note on Monday, June 6th. JPMorgan Chase & Co. downgraded shares of Dominion Resources from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $81.00 in a research note on Thursday, June 16th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and issued a $77.00 target price on shares of Dominion Resources in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research downgraded shares of Dominion Resources from a “hold” rating to a “sell” rating in a research note on Friday, July 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’s stock. The stock currently has a consensus rating of “Hold” and an average 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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