UPDATE: Jefferies Raises PT on Dominion Resources to $44.50 (D)

Jefferies is out with its report today on Dominion Resources (NYSE: D), raising its PT from $43.50 to $44.50.

In a note to clients, Jefferies writes, "Dominion's planned new Natrium gas processing plant will add materially to the company's liquids sales. Sales from the Natrium plant are expected to be fee based (versus keep-whole contracts on existing plants) which limits commodity exposure but also reduces profit potential. Our price target of $44.50 is based on our revised sum of the parts analysis."

Jefferies maintains Hold on D.

At the time of posting, shares of D were trading at $43.98, down 0.25% from Wednesday's close.