Stephens Inc. AR increased its stake in Dominion Energy Inc. (NYSE:D) by 40.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,695 shares of the utilities provider’s stock after buying an additional 38,556 shares during the period. Stephens Inc. AR’s holdings in Dominion Energy were worth $10,448,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN increased its position in Dominion Energy by 24.0% in the first quarter. Wells Fargo & Company MN now owns 4,900,432 shares of the utilities provider’s stock valued at $380,127,000 after buying an additional 949,647 shares during the period. Wellington Management Group LLP increased its position in shares of Dominion Energy by 2.7% in the first quarter. Wellington Management Group LLP now owns 30,572,031 shares of the utilities provider’s stock worth $2,371,472,000 after buying an additional 790,484 shares during the last quarter. Swiss National Bank increased its position in shares of Dominion Energy by 21.9% in the first quarter. Swiss National Bank now owns 2,820,737 shares of the utilities provider’s stock worth $218,805,000 after buying an additional 506,000 shares during the last quarter. Jennison Associates LLC increased its position in shares of Dominion Energy by 58.7% in the first quarter. Jennison Associates LLC now owns 1,003,267 shares of the utilities provider’s stock worth $77,823,000 after buying an additional 371,081 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Dominion Energy by 16.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,492,320 shares of the utilities provider’s stock worth $193,329,000 after buying an additional 347,555 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.
Dominion Energy Inc. (D) traded up 0.73% during midday trading on Friday, hitting $78.69. The company had a trading volume of 2,303,023 shares. Dominion Energy Inc. has a 12-month low of $69.51 and a 12-month high of $81.65. The stock has a market cap of $50.57 billion, a price-to-earnings ratio of 22.78 and a beta of 0.28. The company’s 50 day moving average is $77.11 and its 200 day moving average is $77.32.
Dominion Energy (NYSE:D) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Dominion Energy had a net margin of 17.48% and a return on equity of 14.04%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts anticipate that Dominion Energy Inc. will post $3.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Friday, September 1st will be paid a $0.755 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.02 dividend on an annualized basis and a yield of 3.84%. Dominion Energy’s payout ratio is currently 87.28%.
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A number of brokerages recently commented on D. Royal Bank Of Canada set a $77.00 target price on Dominion Energy and gave the company a “hold” rating in a research report on Saturday, June 3rd. Morgan Stanley dropped their price objective on Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating for the company in a research note on Monday, May 8th. Deutsche Bank AG lifted their price objective on Dominion Energy from $76.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut Dominion Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, BidaskClub downgraded Dominion Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $80.57.
About Dominion Energy
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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