Rhumbline Advisers Increases Stock Position in Dominion Energy, Inc. (NYSE:D)

Rhumbline Advisers raised its stake in shares of Dominion Energy, Inc. (NYSE:D - Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,479,087 shares of the utilities provider's stock after buying an additional 69,118 shares during the period. Rhumbline Advisers owned about 0.17% of Dominion Energy worth $82,932,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in D. Norges Bank purchased a new stake in Dominion Energy during the 4th quarter valued at $473,354,000. American Century Companies Inc. raised its stake in Dominion Energy by 207.7% during 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 last quarter. Marshall Wace LLP raised its stake in Dominion Energy by 8,585.3% during 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 last quarter. Massachusetts Financial Services Co. MA raised its stake in Dominion Energy by 4.9% during 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 buying an additional 1,459,926 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of Dominion Energy during the 4th quarter valued at $72,269,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on D. UBS Group boosted their price objective 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. JPMorgan Chase & Co. reissued an "underweight" rating and set a $52.00 price objective (down previously from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. Morgan Stanley cut their price objective on shares of Dominion Energy from $63.00 to $62.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. Finally, Argus raised shares of Dominion Energy to a "hold" rating in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $58.63.

Dominion Energy Price Performance

Dominion Energy stock traded down $0.19 during mid-day trading on Friday, hitting $55.81. The stock had a trading volume of 4,402,690 shares, compared to its average volume of 4,551,680. The firm has a market capitalization of $47.59 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.22 and a beta of 0.57. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The firm's 50 day moving average is $54.45 and its 200 day moving average is $54.94. Dominion Energy, Inc. has a one year low of $47.99 and a one year high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last issued its earnings results 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 company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.95 billion. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. Dominion Energy's quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, sell-side analysts forecast that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.78%. The ex-dividend date is Thursday, May 29th. Dominion Energy's dividend payout ratio is currently 100.00%.

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.