Brookstone Capital Management increased its position in shares of Dominion Energy Inc (NYSE:D) by 22.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,178 shares of the utilities provider’s stock after purchasing an additional 2,042 shares during the period. Brookstone Capital Management’s holdings in Dominion Energy were worth $786,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in D. Commonwealth Bank of Australia raised its position in shares of Dominion Energy by 40.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 8,028,891 shares of the utilities provider’s stock valued at $549,725,000 after purchasing an additional 2,316,005 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Dominion Energy during the second quarter valued at $33,441,000. Russell Investments Group Ltd. grew its stake in Dominion Energy by 24.5% during the second quarter. Russell Investments Group Ltd. now owns 1,663,146 shares of the utilities provider’s stock valued at $113,561,000 after acquiring an additional 327,798 shares in the last quarter. Van ECK Associates Corp grew its stake in Dominion Energy by 113.9% during the second quarter. Van ECK Associates Corp now owns 597,335 shares of the utilities provider’s stock valued at $40,726,000 after acquiring an additional 318,027 shares in the last quarter. Finally, United Services Automobile Association grew its stake in Dominion Energy by 54.5% during the second quarter. United Services Automobile Association now owns 849,523 shares of the utilities provider’s stock valued at $57,920,000 after acquiring an additional 299,614 shares in the last quarter. Hedge funds and other institutional investors own 67.45% of the company’s stock.
In other news, Director John W. Harris purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average cost of $71.15 per share, with a total value of $711,500.00. Following the purchase, the director now owns 17,495 shares in the company, valued at $1,244,769.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.
Shares of NYSE:D opened at $72.25 on Friday. Dominion Energy Inc has a 52 week low of $61.53 and a 52 week high of $85.30. The firm has a market capitalization of $46.63 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.18. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.36.
Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Dominion Energy had a net margin of 24.63% and a return on equity of 13.24%. The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same period last year, the company posted $1.04 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts expect that Dominion Energy Inc will post 4.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be paid a $0.835 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.62%. Dominion Energy’s payout ratio is currently 92.78%.
Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Dominion Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Howard Weil assumed coverage on shares of Dominion Energy in a research note on Tuesday, July 24th. They set a “sector perform” rating for the company. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $67.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, July 23rd. Guggenheim reaffirmed a “buy” rating and set a $77.00 target price on shares of Dominion Energy in a research note on Monday, July 23rd. Finally, Argus raised their target price on shares of Dominion Energy from $74.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $84.50.
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About Dominion Energy
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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