Formidable Asset Management LLC bought a new stake in Dominion Energy Inc. (NYSE:D - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,587 shares of the utilities provider's stock, valued at approximately $313,000.
A number of other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Dominion Energy by 64.3% in the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider's stock valued at $489,000 after acquiring an additional 3,553 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in Dominion Energy in the 4th quarter valued at about $1,060,000. Thrivent Financial for Lutherans raised its stake in shares of Dominion Energy by 7.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 53,109 shares of the utilities provider's stock valued at $2,898,000 after acquiring an additional 3,628 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Dominion Energy by 20.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 251,604 shares of the utilities provider's stock valued at $13,551,000 after buying an additional 43,541 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Dominion Energy by 781.8% in the fourth quarter. Teacher Retirement System of Texas now owns 49,485 shares of the utilities provider's stock worth $2,665,000 after acquiring an additional 43,873 shares during the period. Institutional investors and hedge funds own 73.04% of the company's stock.
Dominion Energy Price Performance
Shares of NYSE:D traded up $0.86 during midday trading on Tuesday, reaching $58.55. The company's stock had a trading volume of 4,017,485 shares, compared to its average volume of 4,800,563. Dominion Energy Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $61.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market capitalization of $49.93 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.26 and a beta of 0.56. The business's fifty day simple moving average is $56.09 and its 200-day simple moving average is $55.07.
Dominion Energy (NYSE:D - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The business had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The firm's revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.
Dominion Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were issued a $0.6675 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.56%. Dominion Energy's payout ratio is 100.00%.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. increased their target price on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. Finally, Argus raised shares of Dominion Energy to a "hold" rating in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Dominion Energy has an average rating of "Hold" and an average price target of $58.88.
Read Our Latest Research Report on D
About Dominion Energy
(
Free Report)
Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
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