DNB Asset Management AS lifted its position in Dominion Energy Inc (NYSE:D) by 5.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 104,437 shares of the utilities provider’s stock after acquiring an additional 5,476 shares during the period. DNB Asset Management AS’s holdings in Dominion Energy were worth $7,340,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in D. Ipswich Investment Management Co. Inc. bought a new position in Dominion Energy during the third quarter worth $297,000. Viking Fund Management LLC boosted its position in Dominion Energy by 12.1% during the third quarter. Viking Fund Management LLC now owns 74,000 shares of the utilities provider’s stock worth $5,201,000 after purchasing an additional 8,000 shares during the period. NEXT Financial Group Inc boosted its position in Dominion Energy by 9.0% during the third quarter. NEXT Financial Group Inc now owns 20,401 shares of the utilities provider’s stock worth $1,434,000 after purchasing an additional 1,689 shares during the period. Aurora Investment Counsel boosted its position in Dominion Energy by 4.1% during the third quarter. Aurora Investment Counsel now owns 25,847 shares of the utilities provider’s stock worth $1,817,000 after purchasing an additional 1,015 shares during the period. Finally, ACG Wealth boosted its position in Dominion Energy by 19.1% during the third quarter. ACG Wealth now owns 6,642 shares of the utilities provider’s stock worth $467,000 after purchasing an additional 1,066 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.
D stock opened at $71.37 on Friday. The stock has a market capitalization of $45.95 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.82 and a beta of 0.23. Dominion Energy Inc has a 52 week low of $61.53 and a 52 week high of $85.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.52 and a quick ratio of 0.36.
Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.07. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.04 billion. Dominion Energy had a return on equity of 13.13% and a net margin of 23.69%. Dominion Energy’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, sell-side analysts predict that Dominion Energy Inc will post 4.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Friday, September 7th were paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Thursday, September 6th. Dominion Energy’s dividend payout ratio (DPR) is presently 92.78%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Dominion Energy from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Thursday, September 27th. Wells Fargo & Co reissued a “hold” rating and set a $76.00 target price (up previously from $73.00) on shares of Dominion Energy in a report on Monday, September 17th. Scotiabank assumed coverage on Dominion Energy in a report on Tuesday, July 24th. They set a “hold” rating and a $167.00 target price for the company. JPMorgan Chase & Co. raised Dominion Energy from a “neutral” rating to an “overweight” rating and set a $78.00 target price for the company in a report on Tuesday. Finally, Bank of America dropped their target price on Dominion Energy from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Dominion Energy currently has a consensus rating of “Hold” and a consensus price target of $84.42.
In related news, Director John W. Harris purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was acquired at an average price of $71.15 per share, with a total value of $711,500.00. Following the completion of the purchase, the director now directly owns 17,495 shares in the company, valued at $1,244,769.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.
Dominion Energy Company Profile
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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