Analysis: Dominion Resources Inc (NYSE:D) Stock Target Upgraded Today
In a recent research report sent to investors by JP Morgan on Tuesday, 8 December, the firm, Dominion Resources Inc (NYSE:D), had their target price per share cut to $76.00. Analusts now have a solid Overweight rating on the stock.
From a total of 18 analysts covering Dominion Midstream (NYSE:D) stock, 13 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 59% of the ratings are positive. The highest target price is $86 while the lowest target price is $48. The mean of all analyst targets is $78 with a 1.91% above today’s ($65.91) stock price. Dominion Midstream was the topic of 9 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Scotia Capital initiated shares on November 17 with “Sector Outperform” rating. Deutsche Bank maintained shares with “Hold” rating and $73 target share price in a report from an August 25. RBC Capital Markets maintained D stock in a recent report from November 3 with “Outperform” rating. DA Davidson initiated the rating on July 23. DA Davidson has a “Buy” rating and a $45 price target on shares. Finally, Goldman Sachs downgraded the stock to “Sell” rating in a report issued on a September 11.
The stock decreased 0.35% or $0.23 during the last trading session, striking $65.91. Approximately shares of stock traded hands. Dominion Resources, Inc. (NYSE:D) has declined 6.79% since May 6, 2015 and is downtrending. It has underperformed by 5.99% the S&P500.
The overall sentiment of institutions has increased to 1.02 in Q2 2015. Its up 0.19, from 0.83 in 2015Q2. The ratio increased, as 40 institutions have sold all the shares of Dominion Resources, Inc. that they owned while 308 funds have taken shares off the table. 70 funds have purchased shares for the first time while 286 added to their positions. These institutions now hold 371.70 million shares or 8.37% more than the 342.98 million shares they owned in 2015Q2.
The Fund Financial Engines Advisors L.L.C. currently is holding shares equating to 22.75% of its total portfolio in Dominion Resources, Inc. representing a total of 459,932 shares. Another fund,Longbow Capital Partners L.P., is holding a total of 41,914 shares equating to 8.58% of their holdings. Additionally, Sasco Capital Inc Ct has a 3.73 million share stake in Dominion Resources, Inc. which represents 5.68% of their total portfolio. The Fund, Electron Capital Partners Llc, based out of New York, has also built up a stake in the stock, which represents a total of 5.47% of their total portfolio. Finally Wills Financial Group Inc., a fund which is based in the state of Virginia reported a total holdings of 77,936 shares.
Dominion Resources, Inc. is a producer and transporter of energy. The company has a market cap of $39.38 billion. The Firm is a well-known provider of electricity, natural gas and related services to clients in the eastern region of the United States. It has 21.86 P/E ratio. The Firm operates in three divisions: Dominion Virginia Power (DVP), Dominion Generation and Dominion Energy.
According to Zacks Investment Research, “Dominion Resources is a producer of energy. Dominion has one of the larger British Thermal Unit production capability among integrated utilities in the northeast quadrant of the United States. Dominion is also one of the largest independent oil and natural gas exploration and production companies in North America. In addition, the company operates one of the nation’s largest underground natural gas storage system. (Company Press Release)” Get a free copy of the Zacks research report on Dominion Resources, Inc. (D).