Wallington Asset Management buys $3,581,923 stake in Dominion Resources (D)

Dominion Resources (D) : Wallington Asset Management scooped up 690 additional shares in Dominion Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 46,670 shares of Dominion Resources which is valued at $3,581,923.Dominion Resources makes up approximately 1.10% of Wallington Asset Management’s portfolio.

Other Hedge Funds, Including , New Mexico Educational Retirement Board boosted its stake in D in the latest quarter, The investment management firm added 5,900 additional shares and now holds a total of 71,772 shares of Dominion Resources which is valued at $5,508,501. Dominion Resources makes up approx 0.24% of New Mexico Educational Retirement Board’s portfolio.Hartford Investment Management Co boosted its stake in D in the latest quarter, The investment management firm added 2,642 additional shares and now holds a total of 149,726 shares of Dominion Resources which is valued at $11,754,988. Dominion Resources makes up approx 0.24% of Hartford Investment Management Co’s portfolio.Washington Trust Bank reduced its stake in D by selling 479 shares or 21.14% in the most recent quarter. The Hedge Fund company now holds 1,787 shares of D which is valued at $139,726. Dominion Resources makes up approx 0.04% of Washington Trust Bank’s portfolio.

Dominion Resources closed down -0.38 points or -0.50% at $74.99 with 25,88,713 shares getting traded on Monday. Post opening the session at $75.07, the shares hit an intraday low of $74.62 and an intraday high of $75.65 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

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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