Company Update: Dominion Resources Inc (NYSE:D) – Dominion Starts Construction on $1.3 Billion Greensville County Power Station

[PR Newswire] – “This is terrific news for Dominion, its customers, the Commonwealth, Greensville County and all of Southside Virginia,” said Paul Koonce, chief executive officer for Dominion’s Generation Group. The power station will be a major boost for the region’s economy. In its first year of operation, it is expected to provide up to $8 million in property taxes for Greensville County. Post-construction economic benefits are projected to amount to about $36 million annually, and about 166 jobs will be supported, with roughly half of these in Greensville County. Read more on this. Dominion Resources, Inc. (D) , with a current market cap of $45.81B, started the session at $74.26. During the trading session, D traded between $73.80 to $74.58 with its 52-week range being $64.54 to $76.59. Priced at 19.62x this year’s forecasted earnings, D shares are relatively expensive compared to the industry’s 15.26x forward p/e ratio. And for passive income investors, the company pays shareholders $2.80 per share annually in dividends, yielding 3.78%. Consensus earnings for the current quarter by the 10 sell-side analysts covering the stock is an estimate of $0.74 per share, which would be $0.01 better than the year-ago quarter and a $0.04 sequential decrease. The full-year EPS estimate is $3.79, which would be a $0.35 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.99 Billion. If reported, that would be a 8.73% increase over the year-ago quarter. Recently, JP Morgan downgraded D from Overweight to Neutral (Jun 16, 2016). Previously, Citigroup downgraded D from Buy to Neutral. Given all the information above, we should disclose to readers that the average price target is $77.87, which is 4.86% above than it opened this morning. See more in (NYSE:D) Similar Articles: Stock Update: Dominion Resources Inc (NYSE:D) – State Corporation Commission Approves Dominion’s Greensville Power Station Company Update: Dominion Resources Inc (NYSE:D) – Dominion Virginia Power Resumes Appliance Recycling Program Stock Update: Dominion Resources Inc (NYSE:D) – Dominion Virginia Power Plans $9.5 Billion in Infrastructure and Upgrade Expenditures