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Company Update (NYSE:D): Questar Corporation Shareholders Approve Combination with Dominion Resources

[Business Wire] – Shareholders of Questar Corporation today voted overwhelmingly to approve the company’s combination with Dominion Resources during a special meeting of shareholders at Questar’s Salt Lake City headquarters. Over 80 percent of the outstanding shares voted, with 96.6 percent approving the proposed merger. Read more on this. Dominion Resources, Inc. (D) , valued at $44.53B, started the session at $71.64. Today, shares have traded between $71.42 and $72.30 per share and has traded between $64.54 and $76.59 over the past 12 months. D shares are currently priced at 18.86x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.59x earnings multiple. The company pays shareholders $2.80 per share in dividend income per year, for a current yield of 3.92%. 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. What we find to be interesting is 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. Investors should keep in mind is that the average price target is $77.63, which is 8.36% 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
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