Company Update (NYSE:D): Dominion, Questar File Merger Applications in Utah, Wyoming

[PR Newswire] – RICHMOND, Va., March 3, 2016 /PRNewswire/ — Dominion Resources, Inc. ( NYSE:D ) and Questar Corporation (STR) announced today that they have jointly filed merger applications with the Public Service Commission of Utah and the Wyoming Public Service Commission regarding the pending combination that was announced on Feb. 1, 2016. The combined company also would operate more than 15,500 miles of natural gas transmission, gathering and storage pipelines, one of the nation’s largest natural gas storage systems, and approximately 24,300 megawatts of electric generation. Closing of the transaction also requires approval of Questar’s shareholders. Read more on this. Dominion Resources, Inc. (D) , with a current value of $41.48B, started trading this morning at $68.89. Looking at the stock, its one day range is $68.29 to $69.77 with a trailing 52-week range being $64.54 to $76.59. Dominion Resources (D) shares are currently priced at 18.00x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.19x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $2.80 per share annually in dividends, yielding 4.00%. In a review of the consensus earnings estimate this quarter, 7 sell-side analysts are looking at $0.95 per share, which would be $0.04 worse than the year-ago quarter and a $0.05 sequential decrease. The full-year EPS estimate is $3.82 which would be a $0.38 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.49 Billion. If reported, that would be a 2.35% increase over the year-ago quarter. Recently, Citigroup downgraded D from Buy to Neutral (Feb 2, 2016). Previously, Scotia Howard Weil Initiated D at to Sector Outperform. The average price target for D shares is $76.69, which is 11.32% above where the stock opened this morning. See more in (NYSE:D) Similar Articles: Stock Update (NYSE:D): Federal Trade Commission Grants Antitrust Approval of Proposed Combination of Dominion, Questar Stock Update (NYSE:D): INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Questar Corporation of a Class Action Lawsuit in Connection With the Fairness of the Sale of the Company to Dominion Resources, Inc. — STR Stock Update: Dominion Resources Inc (NYSE:D) – SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Questar Corporation of an Investigation Concerning the Fairness of the Sale of the Company to Dominion Resources, Inc. – STR