Dominion Resources Inc. (D) Stake Lowered by Patten & Patten Inc. TN
Patten & Patten Inc. TN decreased its stake in Dominion Resources Inc. (NYSE:D) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,991 shares of the company’s stock after selling 918 shares during the period. Patten & Patten Inc. TN’s holdings in Dominion Resources were worth $1,410,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. Wealthcare Capital Management LLC acquired a new position in Dominion Resources during the second quarter valued at $111,000. Advisory Services Network LLC boosted its position in Dominion Resources by 14.4% in the second quarter. Advisory Services Network LLC now owns 1,513 shares of the company’s stock valued at $118,000 after buying an additional 191 shares during the period. MCF Advisors LLC boosted its position in Dominion Resources by 26.6% in the second quarter. MCF Advisors LLC now owns 1,516 shares of the company’s stock valued at $118,000 after buying an additional 319 shares during the period. Tower Research Capital LLC TRC purchased a new position in Dominion Resources during the second quarter valued at approximately $119,000. Finally, Point72 Asia Hong Kong Ltd purchased a new position in Dominion Resources during the second quarter valued at approximately $125,000. Institutional investors own 64.73% of the company’s stock.
Dominion Resources Inc. (NYSE:D) traded up 1.25% during midday trading on Tuesday, reaching $76.11. The company had a trading volume of 3,376,858 shares. The company has a market capitalization of $47.70 billion, a PE ratio of 22.94 and a beta of 0.22. Dominion Resources Inc. has a one year low of $64.54 and a one year high of $78.97. The stock’s 50 day moving average is $72.99 and its 200 day moving average is $74.45.
Dominion Resources (NYSE:D) last issued its quarterly earnings data on Monday, October 31st. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.02. The firm earned $3.13 billion during the quarter, compared to the consensus estimate of $3.28 billion. Dominion Resources had a net margin of 18.05% and a return on equity of 14.48%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. Equities research analysts forecast that Dominion Resources Inc. will post $3.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, November 30th. This represents a $2.80 annualized dividend and a yield of 3.68%. Dominion Resources’s dividend payout ratio (DPR) is presently 84.59%.
Several equities analysts have commented on D shares. Morgan Stanley cut Dominion Resources from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $82.00 to $79.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “hold” rating and issued a $73.00 price target on shares of Dominion Resources in a report on Thursday, August 25th. Canaccord Genuity reaffirmed a “hold” rating on shares of Dominion Resources in a report on Friday, August 12th. Citigroup Inc. cut their price target on Dominion Resources from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. Finally, Barclays PLC upped their price target on Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, September 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.56.
In related news, Director Ron W. Jibson acquired 3,500 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was purchased at an average cost of $70.98 per share, for a total transaction of $248,430.00. Following the completion of the transaction, the director now directly owns 1,142 shares of the company’s stock, valued at approximately $81,059.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.
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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