Gabelli Has Hold on Dominion Resources
Gabelli & Co. is out with a research report on Dominion Resources Inc (NYSE: D) and it has a Hold rating on shares.
In a note to clients, Gabelli & Co. writes, "Reported 3Q 2011 earnings of $0.95 per share vs. $1.03 per share for the same period last year. Lower results were expected due to lower merchant power margins."
It goes on to say, "Our 2011, 2012 and 2013 earnings estimates remain $3.15, $3.30 and $3.60 per share and reflect earnings growth across all three segments, including merchant power, gas pipeline/distribution and the regulated electric utility. In 2012, we expect 8%-plus growth from the regulated electric utility and strong growth from the gas infrastructure business as well as modestly improved power margins."
Shares of D closed at $51.59 yesterday.
