Palisade Asset Management LLC raised its stake in Dominion Energy Inc. (NYSE:D) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,600 shares of the utilities provider’s stock after buying an additional 1,200 shares during the period. Palisade Asset Management LLC’s holdings in Dominion Energy were worth $2,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in D. Northstar Wealth Partners LLC purchased a new stake in Dominion Energy in the 1st quarter valued at about $377,000. Mason Street Advisors LLC boosted its position in Dominion Energy by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 86,801 shares of the utilities provider’s stock valued at $6,733,000 after buying an additional 1,065 shares during the period. Envestnet Asset Management Inc. boosted its position in Dominion Energy by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 97,927 shares of the utilities provider’s stock valued at $7,596,000 after buying an additional 16,844 shares during the period. Pacer Advisors Inc. boosted its position in Dominion Energy by 3.3% in the 1st quarter. Pacer Advisors Inc. now owns 11,798 shares of the utilities provider’s stock valued at $915,000 after buying an additional 374 shares during the period. Finally, Nordea Investment Management AB boosted its position in Dominion Energy by 1.6% in the 1st quarter. Nordea Investment Management AB now owns 30,786 shares of the utilities provider’s stock valued at $2,388,000 after buying an additional 481 shares during the period. 64.41% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on D shares. J P Morgan Chase & Co upped their price target on shares of Dominion Energy from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Zacks Investment Research cut shares of Dominion Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Gabelli reaffirmed a “hold” rating on shares of Dominion Energy in a research report on Wednesday. KeyCorp reaffirmed a “hold” rating on shares of Dominion Energy in a research report on Friday, September 1st. Finally, Citigroup Inc. upped their price target on shares of Dominion Energy from $76.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 17th. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.70.
Dominion Energy (NYSE:D) last issued its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Dominion Energy had a net margin of 17.21% and a return on equity of 13.60%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 1st will be paid a $0.77 dividend. The ex-dividend date is Thursday, November 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.81%. This is an increase from Dominion Energy’s previous quarterly dividend of $0.76. Dominion Energy’s payout ratio is currently 89.09%.
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Dominion Energy Profile
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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