Market Update (NYSE:D): Dominion Declares Quarterly Dividend of 70 Cents

[PR Newswire] – RICHMOND, Va., May 11, 2016 /PRNewswire/ — The board of directors of Dominion (NYSE: D) has declared a quarterly dividend of 70 cents per share of common stock. Dividends are payable on June 20, 2016, … Read more on this. Dominion Resources, Inc. (D) , with a current value of $44.04B, opened this morning at $71.63. Looking at today’s market, D one day range is $70.87 to $71.67 with a trailing 52-week range being $64.54 to $76.59. D shares are currently priced at 18.86x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.10x forward p/e ratio. The company pays shareholders $2.80 per share annually in dividends, yielding 3.93%. According to a consensus of 9 analysts, the earnings estimate of $0.76 per share would be $0.03 better than the year-ago quarter and a $0.01 sequential decrease. Investors should also note that the full-year EPS estimate of $3.79 is a $0.35 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.01 Billion. If realized, that would be a 9.45% increase over the year-ago quarter. More recently, Citigroup downgraded D from Buy to Neutral (Feb 2, 2016). Previously, Scotia Howard Weil Initiated D at to Sector Outperform. Given all the information above, we should disclose to readers that the average price target is $77.63, which is 8.38% above than it opened this morning. See more in (NYSE:D) Similar Articles: Market Update: Dominion Resources Inc (NYSE:D) – Dominion Offers $1 Million in Educational Grants Company Update: Dominion Resources Inc (NYSE:D) – Dominion Declares Quarterly Dividend of 70 Cents Market Update: Dominion Resources Inc (NYSE:D) – Dominion Closes on Final Phase of Solar Sale to SunEdison