Patten & Patten Inc. TN Acquires 4,905 Shares of Dominion Energy Inc. (NYSE:D)

Key Points

• Patten & Patten Inc. TN increased its stake in Dominion Energy Inc. by 22.8% in the first quarter, bringing its total holdings to 26,460 shares valued at approximately $1.48 million.
• Recent institutional activity shows 73.04% of Dominion Energy's shares are owned by institutional investors, with significant increases from firms like Massachusetts Financial Services Co. and Bank of New York Mellon Corp..
• Dominion Energy recently raised its quarterly dividend to $0.6675 per share, resulting in an annualized dividend yield of 4.55%.

Patten & Patten Inc. TN increased its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 22.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,460 shares of the utilities provider's stock after acquiring an additional 4,905 shares during the period. Patten & Patten Inc. TN's holdings in Dominion Energy were worth $1,484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in D. Brighton Jones LLC boosted its holdings in Dominion Energy by 64.3% during the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider's stock worth $489,000 after buying an additional 3,553 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Dominion Energy in the 4th quarter worth approximately $68,000. Allstate Corp acquired a new position in Dominion Energy in the 4th quarter worth approximately $1,348,000. Allianz SE acquired a new position in Dominion Energy in the 4th quarter worth approximately $437,000. Finally, Schroder Investment Management Group boosted its stake in Dominion Energy by 55.0% in the 4th quarter. Schroder Investment Management Group now owns 1,243,438 shares of the utilities provider's stock worth $66,984,000 after purchasing an additional 441,402 shares during the period. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Stock Up 2.7%

Shares of D stock traded up $1.60 on Friday, hitting $60.05. The company's stock had a trading volume of 4,657,308 shares, compared to its average volume of 5,329,820. 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 Inc. has a fifty-two week low of $48.07 and a fifty-two week high of $61.97. The firm's fifty day moving average price is $56.61 and its 200-day moving average price is $55.33. The stock has a market capitalization of $51.21 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 1.26 and a beta of 0.56.

Dominion Energy (NYSE:D - Get Free Report) last announced its earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. During the same quarter in the prior year, the business posted $0.65 EPS. The firm's revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders 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 dividend yield of 4.4%. Dominion Energy's payout ratio is 100.00%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. 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 target price on shares of Dominion Energy from $53.00 to $56.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Dominion Energy currently has an average rating of "Hold" and an average price target of $58.88.

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.