Nothing but Static Electricity

Long-term holders of Dominion Resources (D) have seen modest returns since the stock peaked late in 2007. Those who bought in early 2006 or near the 2008-to-2009 bottoms did much better. That's because the stock was moderately undervalued in 2006, and was especially cheap in early 2009.

At the five-year panic low, Dominion's trailing price-to-earnings ratio was only at 8.9x. Buyers then locked in a current yield of 6.45%. Conversely, at the 2007 high, the multiple was above 23x and the yield was a puny (for a utility) 2.96%....305 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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