Pictet Asset Management Ltd buys $282,750,390 stake in Dominion Resources (D)

Dominion Resources (D) : Pictet Asset Management Ltd scooped up 58,275 additional shares in Dominion Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 3,722,359 shares of Dominion Resources which is valued at $282,750,390.Dominion Resources makes up approximately 1.06% of Pictet Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management boosted its stake in D in the latest quarter, The investment management firm added 500,144 additional shares and now holds a total of 800,504 shares of Dominion Resources which is valued at $60,806,284. Dominion Resources makes up approx 0.37% of Nuveen Asset Management’s portfolio.Keybank National Associationoh boosted its stake in D in the latest quarter, The investment management firm added 2,540 additional shares and now holds a total of 323,347 shares of Dominion Resources which is valued at $24,561,438. Dominion Resources makes up approx 0.16% of Keybank National Associationoh’s portfolio.Sheaff Brock Investment Advisors reduced its stake in D by selling 830 shares or 6.28% in the most recent quarter. The Hedge Fund company now holds 12,392 shares of D which is valued at $933,985. Dominion Resources makes up approx 0.11% of Sheaff Brock Investment Advisors’s portfolio.Tradewinds Capital Management boosted its stake in D in the latest quarter, The investment management firm added 12 additional shares and now holds a total of 1,270 shares of Dominion Resources which is valued at $99,085. Dominion Resources makes up approx 0.07% of Tradewinds Capital Management’s portfolio.

Dominion Resources opened for trading at $75.09 and hit $75.69 on the upside on Monday, eventually ending the session at $75.69, with a gain of 1.27% or 0.95 points. The heightened volatility saw the trading volume jump to 37,58,852 shares. Company has a market cap of $47,364 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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