Reaves W H Co Inc Lowers stake in Dominion Resources (D)

Dominion Resources (D) : Reaves W H Co Inc reduced its stake in Dominion Resources by 31.29% during the most recent quarter end. The investment management company now holds a total of 972,227 shares of Dominion Resources which is valued at $73,305,916 after selling 442,790 shares in Dominion Resources , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Dominion Resources makes up approximately 2.64% of Reaves W H Co Inc’s portfolio.

Other Hedge Funds, Including , Eaton Vance Management boosted its stake in D in the latest quarter, The investment management firm added 37 additional shares and now holds a total of 61,797 shares of Dominion Resources which is valued at $4,659,494. Dominion Resources makes up approx 0.01% of Eaton Vance Management’s portfolio. Feltz Wealth Plan added D to its portfolio by purchasing 308 company shares during the most recent quarter which is valued at $23,223.Dupont Capital Management Corp reduced its stake in D by selling 11,237 shares or 16.06% in the most recent quarter. The Hedge Fund company now holds 58,727 shares of D which is valued at $4,507,297. Dominion Resources makes up approx 0.10% of Dupont Capital Management Corp’s portfolio.Ftb Advisors boosted its stake in D in the latest quarter, The investment management firm added 89 additional shares and now holds a total of 8,063 shares of Dominion Resources which is valued at $629,075. Dominion Resources makes up approx 0.08% of Ftb Advisors’s portfolio.

Dominion Resources opened for trading at $74.68 and hit $76.68 on the upside on Wednesday, eventually ending the session at $76.65, with a gain of 2.64% or 1.97 points. The heightened volatility saw the trading volume jump to 48,22,026 shares. Company has a market cap of $47,965 M.

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.

Investors should note that on Aug 2, 2016, Dominion Resources announced a cash dividend of $0.7000. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 20, 2016.

Many Wall Street Analysts have commented on Dominion Resources. Dominion Resources was Downgraded by Morgan Stanley to ” Equal-Weight” on Aug 8, 2016. Company shares were Reiterated by UBS on Jul 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 77 from a previous price target of $74 .Dominion Resources was Downgraded by JP Morgan to ” Neutral” on Jun 16, 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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