Concord Asset Management LLC VA Boosts Holdings in Dominion Energy Inc. (NYSE:D)

Concord Asset Management LLC VA increased its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 130.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,966 shares of the utilities provider's stock after acquiring an additional 8,469 shares during the period. Concord Asset Management LLC VA's holdings in Dominion Energy were worth $798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Dominion Energy in the 4th quarter worth about $473,354,000. American Century Companies Inc. grew its stake in shares of Dominion Energy by 207.7% in the 4th quarter. American Century Companies Inc. now owns 3,763,898 shares of the utilities provider's stock valued at $202,724,000 after buying an additional 2,540,713 shares during the period. Marshall Wace LLP grew its stake in shares of Dominion Energy by 8,585.3% in the 4th quarter. Marshall Wace LLP now owns 2,210,322 shares of the utilities provider's stock valued at $119,048,000 after buying an additional 2,184,873 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Dominion Energy by 4.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider's stock valued at $1,667,540,000 after acquiring an additional 1,459,926 shares in the last quarter. Finally, Zimmer Partners LP bought a new position in Dominion Energy in the 4th quarter valued at about $72,269,000. Institutional investors own 73.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on D shares. UBS Group raised their price target on shares of Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley decreased their price objective on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. 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. Finally, Argus raised Dominion Energy to a "hold" rating in a research report on Tuesday, March 25th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $58.88.

Dominion Energy Stock Performance

Shares of Dominion Energy stock traded up $0.48 on Friday, reaching $58.09. 5,448,185 shares of the company traded hands, compared to its average volume of 4,789,313. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $61.97. The company has a 50 day moving average of $56.03 and a 200 day moving average of $55.03. The firm has a market capitalization of $49.54 billion, a PE ratio of 21.76, a PEG ratio of 1.24 and a beta of 0.56. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53.

Dominion Energy (NYSE:D - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.11. Dominion Energy had a net margin of 15.55% and a return on equity of 9.51%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the firm earned $0.55 EPS. The company's revenue was up 12.2% compared to the same quarter last year. Equities analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Thursday, May 29th. Dominion Energy's payout ratio is currently 100.00%.

Dominion Energy 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.