River Road Asset Management LLC purchased a new position in Dominion Energy Inc (NYSE:D) in the first quarter, HoldingsChannel reports. The fund purchased 360,318 shares of the utilities provider’s stock, valued at approximately $27,622,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc raised its position in Dominion Energy by 1.7% during the third quarter. Vanguard Group Inc now owns 49,883,013 shares of the utilities provider’s stock valued at $3,505,778,000 after acquiring an additional 825,191 shares in the last quarter. BlackRock Inc. raised its position in Dominion Energy by 2.2% during the fourth quarter. BlackRock Inc. now owns 47,209,637 shares of the utilities provider’s stock valued at $3,373,599,000 after acquiring an additional 1,032,107 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Dominion Energy by 34.0% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,968,811 shares of the utilities provider’s stock valued at $1,069,671,000 after acquiring an additional 3,801,740 shares in the last quarter. Geode Capital Management LLC raised its position in Dominion Energy by 23.1% during the fourth quarter. Geode Capital Management LLC now owns 9,056,270 shares of the utilities provider’s stock valued at $646,097,000 after acquiring an additional 1,697,619 shares in the last quarter. Finally, Northern Trust Corp raised its position in Dominion Energy by 7.9% during the fourth quarter. Northern Trust Corp now owns 8,392,621 shares of the utilities provider’s stock valued at $599,737,000 after acquiring an additional 613,093 shares in the last quarter. 59.38% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on D. Zacks Investment Research lowered shares of Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 8th. Credit Suisse Group set a $77.00 price target on Dominion Energy and gave the company a “hold” rating in a report on Monday, April 22nd. Wolfe Research set a $79.00 price target on Dominion Energy and gave the company a “hold” rating in a report on Monday, March 18th. TheStreet downgraded Dominion Energy from a “b” rating to a “c+” rating in a report on Friday, May 3rd. Finally, Mizuho initiated coverage on Dominion Energy in a report on Monday, March 11th. They set a “neutral” rating and a $76.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Dominion Energy currently has a consensus rating of “Hold” and a consensus target price of $85.00.
Shares of D stock opened at $74.59 on Wednesday. Dominion Energy Inc has a 12 month low of $61.53 and a 12 month high of $77.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.44 and a current ratio of 0.61. The company has a market cap of $60.66 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 3.70 and a beta of 0.23.
Dominion Energy (NYSE:D) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.02). Dominion Energy had a net margin of 9.19% and a return on equity of 12.35%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter last year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Dominion Energy Inc will post 4.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.9175 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.67 annualized dividend and a yield of 4.92%. Dominion Energy’s dividend payout ratio (DPR) is presently 90.62%.
In other news, Director Robert H. Spilman, Jr. sold 1,215 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.01, for a total value of $92,352.15. Following the sale, the director now owns 23,598 shares in the company, valued at $1,793,683.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director D Maybank Hagood acquired 1,965 shares of the stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $76.34 per share, for a total transaction of $150,008.10. Following the purchase, the director now owns 2,975 shares of the company’s stock, valued at approximately $227,111.50. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.
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About Dominion Energy
Dominion Energy, Inc produces and transports energy. 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.
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