Victory Capital Management Inc. Has $36 Million Holdings in Dominion Energy Inc. (NYSE:D)

Victory Capital Management Inc. lifted its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 642,025 shares of the utilities provider's stock after acquiring an additional 40,127 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Dominion Energy worth $35,998,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Sowell Financial Services LLC purchased a new stake in Dominion Energy in the first quarter valued at approximately $314,000. QRG Capital Management Inc. raised its position in Dominion Energy by 13.8% during the first quarter. QRG Capital Management Inc. now owns 8,971 shares of the utilities provider's stock valued at $503,000 after acquiring an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC raised its position in Dominion Energy by 114.8% during the first quarter. Farther Finance Advisors LLC now owns 12,089 shares of the utilities provider's stock valued at $680,000 after acquiring an additional 6,462 shares in the last quarter. Bessemer Group Inc. raised its position in Dominion Energy by 7.0% during the first quarter. Bessemer Group Inc. now owns 9,394 shares of the utilities provider's stock valued at $527,000 after acquiring an additional 616 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in Dominion Energy by 222.7% during the first quarter. Golden State Wealth Management LLC now owns 910 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 628 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Stock Up 1.5%

Shares of D traded up $0.86 during trading hours on Tuesday, reaching $58.55. The company's stock had a trading volume of 4,016,811 shares, compared to its average volume of 5,381,378. The firm has a market cap of $49.93 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.26 and a beta of 0.56. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $61.97. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The company has a 50 day moving average of $56.09 and a two-hundred day moving average of $55.07.

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

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Thursday, May 29th. Dominion Energy's dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on D. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $53.00 to $56.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Morgan Stanley dropped their price target 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. Finally, Argus raised shares of Dominion Energy to a "hold" rating in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Dominion Energy currently has a consensus rating of "Hold" and an average target price of $58.88.

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.