DNB Asset Management AS boosted its stake in shares of Dominion Energy Inc (NYSE:D) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,437 shares of the utilities provider’s stock after acquiring an additional 5,476 shares during the quarter. DNB Asset Management AS’s holdings in Dominion Energy were worth $7,340,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Kaizen Advisory LLC boosted its stake in shares of Dominion Energy by 136.6% in the 2nd quarter. Kaizen Advisory LLC now owns 1,474 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 851 shares during the last quarter. Private Capital Group LLC boosted its stake in shares of Dominion Energy by 1,708.3% in the 1st quarter. Private Capital Group LLC now owns 2,170 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 2,050 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new position in shares of Dominion Energy in the 1st quarter valued at about $152,000. Bridgeworth LLC bought a new position in shares of Dominion Energy in the 2nd quarter valued at about $166,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Dominion Energy by 310.6% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,644 shares of the utilities provider’s stock valued at $180,000 after purchasing an additional 2,000 shares during the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Dominion Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Dominion Energy from $67.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, July 23rd. Guggenheim reiterated a “buy” rating and issued a $77.00 price target on shares of Dominion Energy in a research report on Monday, July 23rd. Howard Weil began coverage on shares of Dominion Energy in a research report on Tuesday, July 24th. They issued a “sector perform” rating on the stock. Finally, ValuEngine upgraded shares of Dominion Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 26th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $84.42.
In related news, Director John W. Harris bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were purchased at an average cost of $71.15 per share, for a total transaction of $711,500.00. Following the acquisition, the director now owns 17,495 shares of the company’s stock, valued at approximately $1,244,769.25. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.34% of the company’s stock.
Shares of NYSE:D opened at $71.37 on Friday. The company has a market capitalization of $45.95 billion, a P/E ratio of 19.96, a PEG ratio of 2.82 and a beta of 0.23. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.36 and a current ratio of 0.52. Dominion Energy Inc has a fifty-two week low of $61.53 and a fifty-two week high of $85.30.
Dominion Energy (NYSE:D) last announced its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.04 billion. Dominion Energy had a net margin of 23.69% and a return on equity of 13.13%. Dominion Energy’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. On average, analysts forecast that Dominion Energy Inc will post 4.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Friday, September 7th were issued a dividend of $0.835 per share. The ex-dividend date was Thursday, September 6th. This represents a $3.34 annualized dividend and a yield of 4.68%. Dominion Energy’s dividend payout ratio (DPR) is currently 92.78%.
Dominion Energy 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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