Jacobi Capital Management LLC reduced its stake in Dominion Energy Inc (NYSE:D) by 32.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,420 shares of the utilities provider’s stock after selling 1,152 shares during the period. Jacobi Capital Management LLC’s holdings in Dominion Energy were worth $170,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Commonwealth Bank of Australia raised its position in Dominion Energy by 40.5% during the second 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 in the last quarter. Bank of New York Mellon Corp raised its position in Dominion Energy by 29.9% during the third quarter. Bank of New York Mellon Corp now owns 6,146,819 shares of the utilities provider’s stock valued at $431,998,000 after purchasing an additional 1,413,097 shares in the last quarter. Jennison Associates LLC acquired a new position in Dominion Energy during the third quarter valued at approximately $30,691,000. BlackRock Inc. raised its position in Dominion Energy by 0.8% during the third quarter. BlackRock Inc. now owns 46,177,530 shares of the utilities provider’s stock valued at $3,245,357,000 after purchasing an additional 345,036 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position 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 purchasing an additional 327,798 shares in the last quarter. Institutional investors and hedge funds own 67.16% of the company’s stock.
Several brokerages have commented on D. Barclays set a $79.00 price objective on shares of Dominion Energy and gave the company a “buy” rating in a research report on Saturday, November 17th. UBS Group upgraded shares of Dominion Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $84.00 in a research report on Thursday, November 29th. Zacks Investment Research upgraded shares of Dominion Energy from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, October 22nd. JPMorgan Chase & Co. upgraded shares of Dominion Energy from a “neutral” rating to an “overweight” rating and set a $78.00 price target for the company in a report on Tuesday, October 9th. Finally, Argus upped their price target on shares of Dominion Energy from $74.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, September 19th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.58.
Shares of D opened at $75.61 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The firm has a market cap of $48.99 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 3.04 and a beta of 0.18. Dominion Energy Inc has a 12 month low of $61.53 and a 12 month high of $85.30.
Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.02. The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Dominion Energy had a net margin of 24.63% and a return on equity of 13.24%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, sell-side analysts predict that Dominion Energy Inc will post 4.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be given a dividend of $0.835 per share. 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 4.42%. Dominion Energy’s dividend payout ratio (DPR) is presently 92.78%.
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Dominion Energy Company Profile
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.
Further Reading: Coverage Ratio
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