Madison Asset Management LLC Boosts Stock Holdings in Dominion Energy Inc. (NYSE:D)

Madison Asset Management LLC lifted its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 24.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,521 shares of the utilities provider's stock after buying an additional 4,837 shares during the period. Madison Asset Management LLC's holdings in Dominion Energy were worth $1,375,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of 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 in the last quarter. Orion Capital Management LLC purchased a new position in shares of Dominion Energy in the 4th quarter worth about $27,000. Park Square Financial Group LLC purchased a new position in shares of Dominion Energy in the 4th quarter worth about $27,000. VSM Wealth Advisory LLC purchased a new position in shares of Dominion Energy in the 1st quarter worth about $28,000. Finally, Navigoe LLC purchased a new stake in Dominion Energy during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 73.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on D shares. Morgan Stanley reduced their price objective 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. JPMorgan Chase & Co. lifted their target price on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. 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. According to data from MarketBeat, Dominion Energy has an average rating of "Hold" and a consensus target price of $58.88.

Dominion Energy Stock Performance

NYSE:D traded up $0.05 during trading hours on Friday, hitting $58.80. 2,908,618 shares of the company were exchanged, compared to its average volume of 4,306,502. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53. The company's 50 day moving average price is $56.47 and its 200-day moving average price is $55.21. Dominion Energy Inc. has a 52-week low of $48.07 and a 52-week high of $61.97. The stock has a market capitalization of $50.14 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.27 and a beta of 0.56.

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

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.54%. Dominion Energy's dividend payout ratio is currently 100.00%.

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.