DAVENPORT & Co LLC Buys 4,461 Shares of Dominion Energy Inc. (NYSE:D)

DAVENPORT & Co LLC boosted its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 408,900 shares of the utilities provider's stock after buying an additional 4,461 shares during the quarter. DAVENPORT & Co LLC's holdings in Dominion Energy were worth $22,923,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in D. Vanguard Group Inc. increased its holdings in Dominion Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider's stock worth $4,821,222,000 after buying an additional 674,859 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Dominion Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider's stock worth $1,667,540,000 after acquiring an additional 1,459,926 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Dominion Energy by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider's stock worth $997,034,000 after purchasing an additional 601,900 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Dominion Energy by 2.9% during the 4th quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider's stock valued at $643,422,000 after purchasing an additional 336,747 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Dominion Energy by 0.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,450,928 shares of the utilities provider's stock valued at $616,747,000 after purchasing an additional 63,206 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Trading Down 0.4%

D stock traded down $0.21 during midday trading on Wednesday, reaching $57.44. The company's stock had a trading volume of 7,516,322 shares, compared to its average volume of 4,745,685. The business's 50-day simple moving average is $55.34 and its 200-day simple moving average is $54.74. The stock has a market cap of $48.98 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. Dominion Energy Inc. has a 52 week low of $48.03 and a 52 week high of $61.97. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.11. The company had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $3.95 billion. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. Dominion Energy's revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. As a group, sell-side analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Thursday, May 29th. Dominion Energy's dividend payout ratio is presently 100.00%.

Analyst Ratings Changes

D has been the topic of several recent research reports. UBS Group raised their target price on Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, March 21st. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. Morgan Stanley decreased their target price on 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. Finally, Argus raised shares of 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 given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $58.38.

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.