Carnegie Investment Counsel Boosts Stock Position in Dominion Energy Inc. (NYSE:D)

Key Points

• Carnegie Investment Counsel increased its stake in Dominion Energy Inc. by 180.5% in Q1, owning 15,281 shares valued at approximately $826,000.
• Wall Street analysts have a consensus rating of "Hold" for Dominion Energy, with price targets ranging from $53.00 to $60.00.
• The company declared a quarterly dividend of $0.6675 per share, representing an annualized dividend yield of 4.54%.

Carnegie Investment Counsel increased its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 180.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,281 shares of the utilities provider's stock after purchasing an additional 9,833 shares during the quarter. Carnegie Investment Counsel's holdings in Dominion Energy were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Dominion Energy by 450.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock valued at $25,000 after buying an additional 378 shares during the period. Orion Capital Management LLC purchased a new stake in Dominion Energy in the 4th quarter valued at about $27,000. Park Square Financial Group LLC purchased a new stake in Dominion Energy in the 4th quarter valued at about $27,000. VSM Wealth Advisory LLC purchased a new stake in Dominion Energy in the 1st quarter valued at about $28,000. Finally, Navigoe LLC purchased a new stake in Dominion Energy in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 73.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on D. JPMorgan Chase & Co. lifted their price target on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a report on Tuesday, July 15th. Morgan Stanley lowered their price target 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $58.88.

Dominion Energy Stock Up 0.1%

Shares of NYSE:D opened at $58.80 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.73. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $61.97. The stock has a market capitalization of $50.14 billion, a P/E ratio of 22.02, a PEG ratio of 1.27 and a beta of 0.56. The stock has a 50-day simple moving average of $56.47 and a 200-day simple moving average of $55.21.

Dominion Energy (NYSE:D - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business earned $0.55 EPS. The company's revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, May 29th. Dominion Energy's dividend payout ratio (DPR) is presently 100.00%.

About Dominion Energy

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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