Covington Capital Management raised its position in shares of Dominion Energy Inc (NYSE:D) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,202 shares of the utilities provider’s stock after purchasing an additional 4,625 shares during the quarter. Covington Capital Management’s holdings in Dominion Energy were worth $5,123,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. boosted its stake in Dominion Energy by 146.8% during the 3rd quarter. Johnson Financial Group Inc. now owns 1,345 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 800 shares in the last quarter. American Research & Management Co. boosted its stake in Dominion Energy by 159.7% during the 4th quarter. American Research & Management Co. now owns 1,423 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 875 shares in the last quarter. MHI Funds LLC bought a new position in Dominion Energy during the 4th quarter valued at $119,000. Chicago Partners Investment Group LLC boosted its stake in Dominion Energy by 160.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,565 shares of the utilities provider’s stock valued at $120,000 after purchasing an additional 965 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Dominion Energy by 104.0% during the 4th quarter. CWM LLC now owns 1,803 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 919 shares during the last quarter. 65.33% of the stock is owned by hedge funds and other institutional investors.
Dominion Energy Inc (NYSE:D) traded up $0.43 on Wednesday, hitting $73.43. The stock had a trading volume of 515,286 shares, compared to its average volume of 4,551,503. The stock has a market capitalization of $47,541.75, a price-to-earnings ratio of 14.87, a P/E/G ratio of 2.55 and a beta of 0.23. Dominion Energy Inc has a one year low of $71.91 and a one year high of $85.30. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.45 and a quick ratio of 0.30.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Friday, March 2nd will be issued a $0.835 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.55%. This is a positive change from Dominion Energy’s previous quarterly dividend of $0.77. Dominion Energy’s dividend payout ratio is presently 68.02%.
In related news, Director John W. Harris sold 2,665 shares of the stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $80.60, for a total transaction of $214,799.00. Following the completion of the sale, the director now directly owns 13,282 shares in the company, valued at $1,070,529.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph M. Rigby acquired 2,679 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average price of $74.65 per share, with a total value of $199,987.35. The disclosure for this purchase can be found here. 0.37% of the stock is owned by corporate insiders.
A number of brokerages have recently commented on D. Bank of America cut their price objective on Dominion Energy from $80.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. Morgan Stanley increased their price objective on Dominion Energy from $85.00 to $87.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Zacks Investment Research downgraded Dominion Energy from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. UBS Group began coverage on Dominion Energy in a research report on Friday, February 2nd. They set a “buy” rating and a $85.00 price objective for the company. Finally, Hilliard Lyons upgraded Dominion Energy from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, January 30th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $82.09.
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Dominion Energy Company Profile
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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