First United Bank Trust Lowers stake in Dominion Resources (D)

Dominion Resources (D) : First United Bank Trust reduced its stake in Dominion Resources by 3.34% during the most recent quarter end. The investment management company now holds a total of 23,716 shares of Dominion Resources which is valued at $1,712,770 after selling 820 shares in Dominion Resources , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Dominion Resources makes up approximately 1.42% of First United Bank Trust’s portfolio.

Other Hedge Funds, Including , Catawba Capital Management Va boosted its stake in D in the latest quarter, The investment management firm added 2,990 additional shares and now holds a total of 24,064 shares of Dominion Resources which is valued at $1,720,576. Dominion Resources makes up approx 0.41% of Catawba Capital Management Va’s portfolio.Chevy Chase Trust Holdings reduced its stake in D by selling 3,934 shares or 0.73% in the most recent quarter. The Hedge Fund company now holds 532,840 shares of D which is valued at $38,300,539. Dominion Resources makes up approx 0.21% of Chevy Chase Trust Holdings’s portfolio.Cullinan Associates Inc reduced its stake in D by selling 4,700 shares or 18.82% in the most recent quarter. The Hedge Fund company now holds 20,278 shares of D which is valued at $1,457,583. Dominion Resources makes up approx 0.13% of Cullinan Associates Inc’s portfolio.

Dominion Resources closed down -0.53 points or -0.73% at $71.69 with 25,73,310 shares getting traded on Tuesday. Post opening the session at $72.2, the shares hit an intraday low of $71.44 and an intraday high of $72.28 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Dominion Resources reported $0.71 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.71. The company had revenue of $2598.00 million for the quarter, compared to analysts expectations of $2918.93 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.73 EPS.

Many Wall Street Analysts have commented on Dominion Resources. Company shares were Reiterated by Barclays on Sep 26, 2016 to “Overweight”, Firm has raised the Price Target to $ 84 from a previous price target of $80 .Dominion Resources was Downgraded by Morgan Stanley to ” Equal-Weight” on Aug 8, 2016.

Dominion Resources Inc. (Dominion) 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 in three segments: Dominion Virginia Power (DVP) Dominion Generation and Dominion Energy. As of December 31 2014 the Company’s portfolio of assets includes approximately 24600 megawatt (MW) of generating capacity; 6400 miles of electric transmission lines; 57100 miles of electric distribution lines; 10900 miles of natural gas transmission gathering and storage pipeline and 21900 miles of gas distribution pipeline exclusive of service lines. Dominion’s operations are conducted through various subsidiaries including Virginia Power and Dominion Gas. The Company also operates one of the underground natural gas storage systems with approximately 947 billion cubic feet (bcf) of storage capacity.

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