Principle Wealth Partners LLC Has $3.45 Million Stake in Dominion Energy Inc. (NYSE:D)

Principle Wealth Partners LLC boosted its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 51.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,534 shares of the utilities provider's stock after purchasing an additional 20,839 shares during the period. Principle Wealth Partners LLC's holdings in Dominion Energy were worth $3,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in Dominion Energy by 450.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock worth $25,000 after acquiring an additional 378 shares during the last quarter. Orion Capital Management LLC acquired a new position in Dominion Energy during the 4th quarter worth $27,000. VSM Wealth Advisory LLC acquired a new position in Dominion Energy during the 1st quarter worth $28,000. Park Square Financial Group LLC acquired a new position in Dominion Energy during the 4th quarter worth $27,000. Finally, Navigoe LLC acquired a new position in shares of Dominion Energy during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 73.04% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on D. Morgan Stanley cut 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 report on Wednesday, June 18th. JPMorgan Chase & Co. upped their price objective on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. One investment 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, the company currently has an average rating of "Hold" and a consensus target price of $58.88.

Dominion Energy Price Performance

NYSE D traded up $0.05 on Friday, reaching $58.80. The company's stock had a trading volume of 2,908,618 shares, compared to its average volume of 4,306,502. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market cap of $50.14 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.27 and a beta of 0.56. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $61.97. The business has a 50-day moving average price of $56.47 and a 200 day moving average price of $55.21.

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

Dominion Energy Announces Dividend

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