Alberta Investment Management Corp Makes New $4.26 Million Investment in Dominion Energy Inc. (NYSE:D)

Key Points

• Alberta Investment Management Corp made a new investment of approximately $4.26 million in Dominion Energy, acquiring 75,947 shares during the first quarter.
• Dominion Energy recently reported quarterly earnings with an EPS of $0.75, missing estimates, though revenue increased by 9.3% year-over-year to $3.81 billion.
• The company declared a quarterly dividend of $0.6675, with a yield of 4.4%, and a payout ratio of 100%.

Alberta Investment Management Corp purchased a new position in Dominion Energy Inc. (NYSE:D - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 75,947 shares of the utilities provider's stock, valued at approximately $4,258,000.

Other hedge funds have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Dominion Energy by 450.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 378 shares during the last quarter. Orion Capital Management LLC acquired a new position in Dominion Energy during the fourth quarter worth $27,000. Park Square Financial Group LLC acquired a new position in shares of Dominion Energy during the 4th quarter worth about $27,000. VSM Wealth Advisory LLC acquired a new stake in shares of Dominion Energy in the first quarter valued at approximately $28,000. Finally, Navigoe LLC acquired a new position in shares of Dominion Energy in the fourth quarter valued at $29,000. Institutional investors own 73.04% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. Morgan Stanley reduced their target price on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $59.14.

Dominion Energy Stock Performance

D stock traded up $0.71 during mid-day trading on Thursday, reaching $61.68. 5,355,945 shares of the stock traded hands, compared to its average volume of 5,387,701. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $61.98. The business has a 50-day moving average of $56.98 and a two-hundred day moving average of $55.51. The firm has a market capitalization of $52.64 billion, a PE ratio of 21.27, a P/E/G ratio of 1.33 and a beta of 0.57. The company has a quick ratio of 0.53, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. As a group, equities analysts predict that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, September 5th. Dominion Energy's dividend payout ratio is 92.07%.

Dominion Energy Company Profile

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.