Flippin Bruce & Porter Inc. Sells 350 Shares of Dominion Resources, Inc. (D)
Flippin Bruce & Porter Inc. cut its stake in Dominion Resources, Inc. (NYSE:D) by 11.9% during the first quarter, Holdings Channel reports. The fund owned 2,600 shares of the utilities provider’s stock after selling 350 shares during the period. Flippin Bruce & Porter Inc.’s holdings in Dominion Resources were worth $202,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wetherby Asset Management Inc. increased its position in Dominion Resources by 10.6% in the fourth quarter. Wetherby Asset Management Inc. now owns 8,335 shares of the utilities provider’s stock valued at $638,000 after buying an additional 797 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in Dominion Resources by 262.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 33,722 shares of the utilities provider’s stock valued at $2,583,000 after buying an additional 24,425 shares in the last quarter. Bessemer Group Inc. increased its position in Dominion Resources by 11.5% in the fourth quarter. Bessemer Group Inc. now owns 17,974 shares of the utilities provider’s stock valued at $1,377,000 after buying an additional 1,849 shares in the last quarter. RFG Advisory Group LLC increased its position in Dominion Resources by 1.3% in the fourth quarter. RFG Advisory Group LLC now owns 6,337 shares of the utilities provider’s stock valued at $457,000 after buying an additional 79 shares in the last quarter. Finally, Ecofin Ltd. increased its position in Dominion Resources by 15.0% in the fourth quarter. Ecofin Ltd. now owns 32,429 shares of the utilities provider’s stock valued at $2,484,000 after buying an additional 4,230 shares in the last quarter. 66.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dominion Resources, Inc. (NYSE:D) opened at 80.71 on Friday. Dominion Resources, Inc. has a 12 month low of $69.51 and a 12 month high of $81.65. The firm’s 50 day moving average is $79.11 and its 200 day moving average is $76.72. The company has a market cap of $50.77 billion, a PE ratio of 22.60 and a beta of 0.29.
Dominion Resources (NYSE:D) last issued its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.49 billion. Dominion Resources had a net margin of 18.29% and a return on equity of 14.53%. Dominion Resources’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 earnings per share. On average, equities analysts predict that Dominion Resources, Inc. will post $3.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Friday, June 2nd will be issued a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Wednesday, May 31st. This is a positive change from Dominion Resources’s previous quarterly dividend of $0.76. Dominion Resources’s payout ratio is 84.59%.
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Several research analysts have issued reports on the company. Royal Bank Of Canada set a $77.00 price objective on Dominion Resources and gave the stock a “hold” rating in a report on Saturday, June 3rd. Morgan Stanley reduced their price objective 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. Zacks Investment Research downgraded Dominion Resources from a “hold” rating to a “sell” rating in a report on Monday, April 10th. Tudor Pickering downgraded Dominion Resources from a “buy” rating to a “hold” rating in a report on Monday, April 3rd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $89.00 price objective (up previously from $80.00) on shares of Dominion Resources in a report on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $80.00.
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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