Insider Buying: Dominion Resources Director Buys $250,000 in Stock

IMG_0233By Zach Kirkland, WKRB

Dominion Resources (NYSE:D) Director William P. Barr acquired 3,390 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average price of $73.69 per share, with a total value of $249,809.10. Following the completion of the purchase, the director now directly owns 30,310 shares of the company’s stock, valued at approximately $2,233,543.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Dominion Resources (NYSE:D) traded down 0.37% on Thursday, hitting $72.44. The stock had a trading volume of 149,568 shares. Dominion Resources has a 52-week low of $64.71 and a 52-week high of $80.89. The stock’s 50-day moving average is $76.44 and its 200-day moving average is $72.62. The company has a market cap of $42.486 billion and a P/E ratio of 32.46.

Dominion Resources (NYSE:D) last issued its quarterly earnings data on Friday, February 6th. The company reported $0.84 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.84. During the same quarter in the prior year, the company posted $0.80 earnings per share. On average, analysts predict that Dominion Resources will post $3.72 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 27th will be paid a dividend of $0.6475 per share. This represents a $2.59 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Wednesday, February 25th. This is an increase from Dominion Resources’s previous quarterly dividend of $0.60.

A number of research firms have recently commented on D. Analysts at Deutsche Bank reiterated a “hold” rating and set a $75.00 price target (up previously from $73.00) on shares of Dominion Resources in a research note on Tuesday, February 10th. Analysts at JPMorgan Chase & Co. raised their price target on shares of Dominion Resources from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, February 3rd. Analysts at Argus raised their price target on shares of Dominion Resources from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 26th. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Dominion Resources in a research note on Monday, December 8th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $76.67.

Dominion Resources, Inc (NYSE:D) is a producer and transporter of energy. The Company is a provider of electricity, natural gas and related services to customers primarily in the eastern region of the United States. Dominion’s portfolio of assets includes approximately 27,500 megawatts of generating capacity, 6,300 miles of electric transmission lines, 56,900 miles of electric distribution lines, 11,000 miles of natural gas transmission, gathering and storage pipeline and 21,800 miles of gas distribution pipeline, exclusive of service lines of two inches in diameter or less.

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