Verus Financial Partners Lowers stake in Dominion Resources (D)

Dominion Resources (D) : Verus Financial Partners reduced its stake in Dominion Resources by 4.33% during the most recent quarter end. The investment management company now holds a total of 21,582 shares of Dominion Resources which is valued at $1,542,466 after selling 977 shares in Dominion Resources , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Dominion Resources makes up approximately 0.71% of Verus Financial Partners’s portfolio.

Dominion Resources opened for trading at $71.7 and hit $72.475 on the upside on Monday, eventually ending the session at $72.1, with a gain of 0.88% or 0.63 points. The heightened volatility saw the trading volume jump to 30,25,241 shares. Company has a market cap of $43,002 M.

Other Hedge Funds, Including , Davenport Co boosted its stake in D in the latest quarter, The investment management firm added 17,461 additional shares and now holds a total of 838,218 shares of Dominion Resources which is valued at $59,907,440. Dominion Resources makes up approx 0.93% of Davenport Co’s portfolio.Capital One National Association reduced its stake in D by selling 162 shares or 2.23% in the most recent quarter. The Hedge Fund company now holds 7,107 shares of D which is valued at $497,916. Dominion Resources makes up approx 0.04% of Capital One National Association’s portfolio.North American Management Corp boosted its stake in D in the latest quarter, The investment management firm added 450 additional shares and now holds a total of 22,390 shares of Dominion Resources which is valued at $1,635,590. Dominion Resources makes up approx 0.26% of North American Management Corp’s portfolio.Carnegie Capital Asset Management boosted its stake in D in the latest quarter, The investment management firm added 450 additional shares and now holds a total of 19,684 shares of Dominion Resources which is valued at $1,437,916. Dominion Resources makes up approx 0.22% of Carnegie Capital Asset Management’s portfolio.

On the company’s financial health, Dominion Resources reported $0.70 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Feb 1, 2016. Analyst had a consensus of $0.88.Analysts expectations of $ 3728.86.During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on Dominion Resources. Company shares were Reiterated by Barclays on Feb 4, 2016 to “Overweight”, Firm has raised the Price Target to $ 80 from a previous price target of $76 .Shares were Reiterated by UBS on Feb 3, 2016 to “Neutral” and Lowered the Price Target to $ 71 from a previous price target of $73 .Dominion Resources was Downgraded by Citigroup to ” Neutral” on Feb 2, 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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