Here’s What Smart Money Thinks about Dominion Resources, Inc. (D)

Now, specific money managers have jumped into Dominion Resources, Inc. (NYSE:D) headfirst. Zimmer Partners initiated the largest position in Dominion Resources, Inc. (NYSE:D). Dmitry Balyasny’s Balyasny Asset Management also made a $17.3 million investment in the stock during the third quarter. The other funds with brand new Dominion Resources positions are D. E. Shaw’s D E Shaw, Ken Griffin’s Citadel Investment Group, and Daniel S. Och’s OZ Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Dominion Resources, Inc. (NYSE:D) but similarly valued. We will take a look at Express Scripts Holding Company (NASDAQ:ESRX), Adobe Systems Incorporated (NASDAQ:ADBE), Telefonica S.A. (ADR) (NYSE:TEF), and Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR). This group of stocks’ market caps resemble D’s market cap.

As you can see these stocks had an average of 37 investors with bullish positions and the average amount invested in these stocks was $1.59 billion. That figure was $293 million in Dominion’s case. Adobe Systems Incorporated (NASDAQ:ADBE) is the most popular stock in this table. On the other hand Telefonica S.A. (ADR) (NYSE:TEF) is the least popular one with only 5 bullish hedge fund positions. Dominion Resources, Inc. (NYSE:D) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Adobe Systems Incorporated (NASDAQ:ADBE) might be a better candidate to consider taking a long position in.

Disclosure: none