Beacon Financial Group lifted its stake in Dominion Energy Inc. (NYSE:D) by 34.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,014 shares of the utilities provider’s stock after purchasing an additional 1,785 shares during the period. Beacon Financial Group’s holdings in Dominion Energy were worth $540,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of D. Waldron LP bought a new position in shares of Dominion Energy in the first quarter worth about $236,000. Cutter & CO Brokerage Inc. bought a new position in shares of Dominion Energy in the first quarter worth about $788,000. Ingalls & Snyder LLC grew its holdings in shares of Dominion Energy by 147.9% in the first quarter. Ingalls & Snyder LLC now owns 60,231 shares of the utilities provider’s stock worth $4,672,000 after purchasing an additional 35,938 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Dominion Energy by 3.4% in the first quarter. Keybank National Association OH now owns 350,995 shares of the utilities provider’s stock worth $27,227,000 after purchasing an additional 11,439 shares during the last quarter. Finally, Sequent Asset Management LLC bought a new position in shares of Dominion Energy in the first quarter worth about $352,000. Hedge funds and other institutional investors own 64.43% of the company’s stock.
Several research analysts have issued reports on D shares. Zacks Investment Research upgraded shares of Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, July 11th. Citigroup Inc. dropped their target price on shares of Dominion Energy from $78.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, July 26th. Deutsche Bank AG increased their target price on shares of Dominion Energy from $76.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating and set a $77.00 target price on shares of Dominion Energy in a report on Monday, August 21st. Finally, KeyCorp reiterated a “hold” rating on shares of Dominion Energy in a report on Friday, September 1st. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $80.70.
Shares of Dominion Energy Inc. (D) opened at 80.51 on Friday. Dominion Energy Inc. has a 12-month low of $69.51 and a 12-month high of $81.65. The company has a market capitalization of $51.73 billion, a PE ratio of 23.30 and a beta of 0.28. The stock has a 50 day moving average of $78.36 and a 200-day moving average of $78.25.
Dominion Energy (NYSE:D) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. Dominion Energy had a return on equity of 14.04% and a net margin of 17.48%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts predict that Dominion Energy Inc. will post $3.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Friday, December 1st will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from Dominion Energy’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.83%. Dominion Energy’s payout ratio is currently 87.28%.
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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