Financial Architects Inc boosted its position in Dominion Resources, Inc. (NYSE:D) by 36.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,636 shares of the utilities provider’s stock after buying an additional 978 shares during the period. Financial Architects Inc’s holdings in Dominion Resources were worth $282,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Norway Savings Bank purchased a new stake in shares of Dominion Resources during the fourth quarter worth about $100,000. Bollard Group LLC raised its stake in shares of Dominion Resources by 0.9% in the first quarter. Bollard Group LLC now owns 1,516 shares of the utilities provider’s stock worth $118,000 after buying an additional 13 shares during the period. TLP Group LLC purchased a new stake in shares of Dominion Resources during the third quarter worth about $120,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of Dominion Resources by 0.9% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 2,135 shares of the utilities provider’s stock worth $159,000 after buying an additional 20 shares during the period. Finally, Regent Investment Management LLC purchased a new stake in shares of Dominion Resources during the first quarter worth about $209,000. Hedge funds and other institutional investors own 65.93% of the company’s stock.
Dominion Resources, Inc. (NYSE:D) opened at 77.61 on Friday. Dominion Resources, Inc. has a 1-year low of $68.71 and a 1-year high of $79.36. The stock has a market cap of $48.82 billion, a P/E ratio of 21.73 and a beta of 0.25. The firm’s 50-day moving average is $77.72 and its 200-day moving average is $75.49.
Dominion Resources (NYSE:D) last posted its quarterly earnings results 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 the consensus estimate of $3.49 billion. Dominion Resources had a return on equity of 15.42% and a net margin of 18.09%. Dominion Resources’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, analysts forecast that Dominion Resources, Inc. will post $3.65 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Friday, June 2nd will be paid a $0.775 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, May 31st. This is an increase from Dominion Resources’s previous quarterly dividend of $0.76. Dominion Resources’s payout ratio is 81.40%.
A number of analysts recently issued reports on D shares. Zacks Investment Research upgraded shares of Dominion Resources from a “sell” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Tuesday, April 11th. Morgan Stanley decreased their target price on shares of Dominion Resources from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Monday. Deutsche Bank AG raised their target price on shares of Dominion Resources from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Tudor Pickering lowered shares of Dominion Resources from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. Finally, Royal Bank of Canada restated a “hold” rating and set a $77.00 target price on shares of Dominion Resources in a research report on Thursday, February 16th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $80.14.
In other Dominion Resources news, Director John W. Harris sold 5,697 shares of Dominion Resources stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $76.55, for a total value of $436,105.35. Following the transaction, the director now owns 22,503 shares in the company, valued at $1,722,604.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by insiders.
Dominion Resources Company Profile
Dominion Resources, Inc (Dominion) 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.
Want to see what other hedge funds are holding D? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dominion Resources, Inc. (NYSE:D).