Wills Financial Group LLC Invests $4.29 Million in Dominion Energy Inc. (NYSE:D)

Key Points

• Wills Financial Group LLC has purchased a new position in Dominion Energy, acquiring 76,487 shares valued at approximately $4.29 million, making it the firm's 20th largest investment.
$0.75 per share, missing the consensus estimate by $0.02, but its revenue was up 9.3% year-over-year to $3.81 billion.
• The company announced a quarterly dividend of $0.6675 per share, representing an annualized amount of $2.67 and a dividend yield of 4.4%.

Wills Financial Group LLC purchased a new position in Dominion Energy Inc. (NYSE:D - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 76,487 shares of the utilities provider's stock, valued at approximately $4,289,000. Dominion Energy makes up approximately 1.9% of Wills Financial Group LLC's investment portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of Dominion Energy by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock worth $890,318,000 after buying an additional 939,835 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Dominion Energy by 2.9% in the 4th quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider's stock valued at $643,422,000 after acquiring an additional 336,747 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Dominion Energy by 0.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,450,928 shares of the utilities provider's stock worth $616,747,000 after acquiring an additional 63,206 shares in the last quarter. Invesco Ltd. increased its stake in Dominion Energy by 6.8% during the fourth quarter. Invesco Ltd. now owns 10,959,325 shares of the utilities provider's stock worth $590,269,000 after acquiring an additional 701,653 shares during the last quarter. Finally, Northern Trust Corp raised its position in Dominion Energy by 16.7% during the fourth quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider's stock valued at $501,759,000 after purchasing an additional 1,330,459 shares during the period. Institutional investors own 73.04% of the company's stock.

Dominion Energy Trading Up 0.1%

Shares of NYSE D traded up $0.06 during mid-day trading on Friday, reaching $61.80. The company had a trading volume of 2,163,637 shares, compared to its average volume of 5,372,235. The stock has a market cap of $52.74 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. Dominion Energy Inc. has a 52 week low of $48.07 and a 52 week high of $62.26. The business's 50-day moving average is $57.09 and its 200-day moving average is $55.55. The company has a current ratio of 0.67, a quick ratio of 0.53 and a debt-to-equity ratio of 1.35.

Dominion Energy (NYSE:D - Get Free Report) last issued its earnings results on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%. Dominion Energy's revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. Equities analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a yield of 4.3%. Dominion Energy's dividend payout ratio (DPR) is 92.07%.

Analyst Upgrades and Downgrades

D has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Dominion Energy from $53.00 to $56.00 and gave the stock an "underweight" rating in a report on Tuesday, July 15th. Morgan Stanley lowered their price target 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $59.14.

Dominion Energy 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.