Company Update: Dominion Resources Inc (NYSE:D) – Dominion Virginia Power, SunEnergy1 to Install Largest Solar Facility in Hampton Roads

[PR Newswire] – CHESAPEAKE, Va., Feb. 8, 2016 /PRNewswire/ — Dominion Virginia Power will soon add more solar power to its generation portfolio. The company is partnering with SunEnergy1 to install 91,803 solar panels at a new solar farm in Chesapeake– enough to power 5,000 homes. Dominion will purchase the output of the facility, including energy, capacity and renewable energy credits, under a 20-year power purchase agreement. “Our commitment to solar energy is an important part of the future of our state,” said Katheryn Curtis, Dominion’s senior vice president of Power Generation. Read more on this. Dominion Resources, Inc. (D) , valued at $41.27B, opened at $70.23. Shares have traded today between $69.08 and $70.89 per share and has traded between $64.54 and $78.15 over the past 12 months. Priced at 18.39x this year’s forecasted earnings, D shares are relatively expensive compared to the industry ’s 8.46x forward p/e ratio. The company pays shareholders $2.80 per share annually in dividends, yielding 3.94%. In a review of the consensus earnings estimate this quarter, 8 sell-side analysts are looking at $0.95 per share, which would be $0.04 worse than the year-ago quarter and a $0.06 sequential decrease. The full-year EPS estimate is $3.83, which would be a $0.39 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.61 Billion. If realized, that would be a 5.87% increase over the year-ago quarter. In terms of ratings, 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 $76.89, which is 9.48% above than it opened this morning. See more in (NYSE:D) Similar Articles: Stock Update: Dominion Resources Inc (NYSE:D) – Dominion Virginia Power Plans $9.5 Billion in Infrastructure and Upgrade Expenditures Stock Update (NYSE:D): Dominion Virginia Power and Governor McAuliffe Announce Partnership to Significantly Increase Solar Energy in Virginia Stock Update: Dominion Resources Inc (NYSE:D) – Dominion Acquires Solar Energy Project on Virginia’s Eastern Shore
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