Company Update: Dominion Resources Inc (NYSE:D) – Dominion Resources, Inc., Recommends Shareholder Rejection of ‘Mini-Tender’ Offer By TRC Capital Corporation

[PR Newswire] – RICHMOND, Va., Jan. 14, 2016 /PRNewswire/ — Dominion Resources, Inc. (NYSE:D), has received notice of an unsolicited “mini-tender” offer by TRC Capital Corporation (TRC Capital) to purchase up to 2 million shares of Dominion’s common stock at a price of $66.50 per share in cash. The offering price is approximately 4.19 percent below the closing price per share of Dominion’s common stock on Jan. 11, 2016, the last trading day before the offer was commenced. The offer is for approximately 0.34 percent of the outstanding shares of Dominion’s common stock. Read more on this. Dominion Resources, Inc. (D) , valued at $41.48B, began trading this morning at $68.97. Looking at the stock, its one day range is $68.85 to $69.97 and has traded between $64.54 and $79.89 over the past 12 months. D shares are currently priced at 18.83x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.67x earnings multiple. And for income investors, the company pays shareholders $2.59 per share annually in dividends, yielding 3.73%. Consensus earnings for the current quarter by the 13 sell-side analysts covering the stock is an estimate of $0.91 per share, which would be $0.07 better than the year-ago quarter and a $0.02 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.66 would be a $0.23 better 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 $3.41 Billion. If realized, that would be a 15.99% increase over the year-ago quarter. In terms of ratings, Scotia Howard Weil Initiated D at Sector Outperform (Nov 17, 2015). Previously, Citigroup Initiated D at to Buy. With the above information in mind, readers should note that the average price target is $78.00, which is 13.09% above where the stock opened this morning. See more in (NYSE:D) Similar Articles: Company Update: Dominion Resources Inc (NYSE:D) – Dominion Closes on First Phase of Solar Sale to SunEdison Company Update: Dominion Resources Inc (NYSE:D) – Dominion East Ohio Customers Benefit From Lower Natural Gas Prices, Thanks to Increased Local Production Market Update: Dominion Resources Inc (NYSE:D) – Dominion And Dominion Midstream Schedule Third-Quarter Earnings Conference Call