Market Update: Dominion Resources Inc (NYSE:D) – Dominion Closes on Final Phase of Solar Sale to SunEdison

[PR Newswire] – RICHMOND, Va., Jan. 19, 2016 /PRNewswire/ — Dominion (NYSE:D) announced today that it has closed on the second and final phase of its previously announced sale of a 33 percent ownership interest in 425 megawatts (AC) of solar generating capacity to SunEdison, Inc. (SUNE). Dominion sold the ownership interest in 172 megawatts (AC) of solar generating capacity at nine sites in California, Utah and Georgia for a sales price of approximately $120 million, subject to certain adjustments. Dominion is one of the nation’s largest producers and transporters of energy, with a portfolio of approximately 24,400 megawatts of generation, 12,200 miles of natural gas transmission, gathering and storage pipeline, and 6,490 miles of electric transmission lines. Dominion operates one of the nation’s largest natural gas storage systems with 928 billion cubic feet of storage capacity and serves utility and retail energy customers in 14 states. Read more on this. Dominion Resources, Inc. (D) , valued at $41.20B, opened at $69.23. During today’s session, D traded between $68.69 to $69.42 and has traded between $64.54 and $79.89 over the past 12 months. Priced at 19.04x this year’s forecasted earnings, D shares are relatively expensive compared to the industry’s 2.95x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.59 per share annually in dividends, yielding 3.72%. In a review of the consensus earnings estimate this quarter, 13 sell-side analysts are looking at $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 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.40 Billion. If reported, that would be a 15.65% increase over the year-ago quarter. More recently, Scotia Howard Weil Initiated D at Sector Outperform (Nov 17, 2015). Previously, Citigroup Initiated D at to Buy. The average price target for D shares by the analysts covering the stock is $77.59, which is 12.08% 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 Stock Update: Dominion Resources Inc (NYSE:D) – Dominion Acquires Solar Energy Project on Virginia’s Eastern Shore Stock Update (NYSE:D): SunEdison Announces Dominion Partnership in 420 Megawatt, Four Brothers Solar Project in Utah