Pennsylvania Trust Co Lowers stake in Dominion Resources (D)

Dominion Resources (D) : Pennsylvania Trust Co reduced its stake in Dominion Resources by 2.55% during the most recent quarter end. The investment management company now holds a total of 138,742 shares of Dominion Resources which is valued at $10,097,643 after selling 3,627 shares in Dominion Resources , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Dominion Resources makes up approximately 0.83% of Pennsylvania Trust Co’s portfolio.

Other Hedge Funds, Including , Premier Asset Managment sold out all of its stake in D during the most recent quarter. The investment firm sold 3,070 shares of D which is valued $225,062. Edge Wealth Management sold out all of its stake in D during the most recent quarter. The investment firm sold 75 shares of D which is valued $5,498.Oregon Public Employees Retirement Fund reduced its stake in D by selling 40,922 shares or 39.13% in the most recent quarter. The Hedge Fund company now holds 63,653 shares of D which is valued at $4,597,020. Dominion Resources makes up approx 0.10% of Oregon Public Employees Retirement Fund’s portfolio.

Dominion Resources closed down -0.53 points or -0.72% at $72.78 with 16,94,062 shares getting traded on Friday. Post opening the session at $73.16, the shares hit an intraday low of $72.7 and an intraday high of $73.47 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Many Wall Street Analysts have commented on Dominion Resources. Company shares were Reiterated by Barclays on Sep 26, 2016 to “Overweight”, Firm has raised the Price Target to $ 84 from a previous price target of $80 .Dominion Resources was Downgraded by Morgan Stanley to ” Equal-Weight” on Aug 8, 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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