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Stock Update (NYSE:D): Federal Trade Commission Grants Antitrust Approval of Proposed Combination of Dominion, Questar

[PR Newswire] – RICHMOND, Va., Feb. 23, 2016 /PRNewswire/ — Dominion Resources, Inc. ( NYSE:D ) and Questar Corporation (STR) announced today that their proposed combination has cleared a key condition needed for completion. Expiration or termination of the waiting period is one of the conditions required for completion of the transaction. Closing of the transaction still requires approval of Questar’s shareholders. Read more on this. Dominion Resources, Inc. (D) , currently valued at $42.20B, opened this morning at $70.39. During the trading session, D traded between $70.27 to $71.19 with a one year range of $64.54 to $76.59. D shares are currently priced at 18.26x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 11.76x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $2.80 per share annually in dividends, yielding 4.03%. According to a consensus of 8 analysts, the earnings estimate of $0.95 per share would be $0.04 worse than the year-ago quarter and a $0.05 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.82 would be a $0.38 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.61 Billion. If reported, 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. The average price target for D shares by the analysts covering the stock is $76.88, which is 9.22% above where the stock opened this morning. See more in (NYSE:D) Similar Articles: Company Update: Dominion Resources Inc (NYSE:D) – Dominion to Award $1 Million in Environmental Grants 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 Market Update (NYSE:DUK): Federal Trade Commission grants antitrust approval of Duke Energy’s proposed acquisition of Piedmont Natural Gas
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