Summit Global Investments Makes New Investment in Dominion Energy, Inc. (NYSE:D)

Summit Global Investments acquired a new stake in shares of Dominion Energy, Inc. (NYSE:D - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 48,586 shares of the utilities provider's stock, valued at approximately $2,724,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its stake in Dominion Energy by 12.2% in the 4th quarter. Pacer Advisors Inc. now owns 70,213 shares of the utilities provider's stock worth $3,782,000 after acquiring an additional 7,632 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in Dominion Energy in the 4th quarter worth about $1,027,000. Everett Harris & Co. CA increased its stake in Dominion Energy by 7.9% in the 4th quarter. Everett Harris & Co. CA now owns 122,031 shares of the utilities provider's stock worth $6,573,000 after acquiring an additional 8,902 shares during the last quarter. Principal Securities Inc. increased its stake in Dominion Energy by 3.9% in the 4th quarter. Principal Securities Inc. now owns 15,799 shares of the utilities provider's stock worth $851,000 after acquiring an additional 590 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Dominion Energy by 12.2% in the 4th quarter. Empowered Funds LLC now owns 16,227 shares of the utilities provider's stock worth $874,000 after acquiring an additional 1,767 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Trading Down 0.2%

D traded down $0.12 on Tuesday, hitting $56.65. 1,375,123 shares of the company were exchanged, compared to its average volume of 5,282,823. The firm has a fifty day simple moving average of $54.39 and a two-hundred day simple moving average of $54.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. Dominion Energy, Inc. has a 12 month low of $47.99 and a 12 month high of $61.97. The stock has a market capitalization of $48.31 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly 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 return on equity of 8.99% and a net margin of 16.22%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the company earned $0.55 EPS. Dominion Energy's revenue for the quarter was up 12.2% compared to the same quarter last year. Sell-side analysts expect that Dominion Energy, Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, May 29th. Dominion Energy's dividend payout ratio (DPR) is currently 100.00%.

Analysts Set New Price Targets

D has been the topic of several recent research reports. Argus upgraded Dominion Energy to a "hold" rating in a research report on Tuesday, March 25th. Morgan Stanley reduced their price objective on Dominion Energy from $63.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 22nd. UBS Group increased their price objective on Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Dominion Energy currently has an average rating of "Hold" and a consensus price target of $58.63.

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.