Cohen & Steers Inc. increased its holdings in shares of Dominion Energy, Inc. (NYSE:D – Free Report) by 65.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,323,259 shares of the utilities provider’s stock after buying an additional 1,313,853 shares during the period. Cohen & Steers Inc. owned about 0.40% of Dominion Energy worth $172,112,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in D. Sei Investments Co. boosted its position in Dominion Energy by 7.7% during the 1st quarter. Sei Investments Co. now owns 168,723 shares of the utilities provider’s stock worth $14,325,000 after buying an additional 12,002 shares during the period. Prudential PLC acquired a new position in shares of Dominion Energy in the 1st quarter worth approximately $1,528,000. Sequoia Financial Advisors LLC lifted its position in shares of Dominion Energy by 30.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,195 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 1,661 shares during the period. Covestor Ltd lifted its position in shares of Dominion Energy by 49.8% in the 1st quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 131 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of Dominion Energy in the 1st quarter worth approximately $419,000. 70.66% of the stock is currently owned by institutional investors and hedge funds.
Dominion Energy Stock Performance
NYSE D traded up $0.25 during trading hours on Friday, reaching $47.49. 6,508,835 shares of the company were exchanged, compared to its average volume of 5,085,951. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $63.94. The business’s 50 day simple moving average is $43.84 and its 200-day simple moving average is $48.05. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $39.74 billion, a P/E ratio of 24.23, a P/E/G ratio of 2.16 and a beta of 0.56.
Dominion Energy (NYSE:D – Get Free Report) last posted its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). Dominion Energy had a return on equity of 10.94% and a net margin of 9.66%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.38 billion. During the same quarter last year, the business posted $1.11 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities research analysts expect that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.
Dominion Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 1st will be given a dividend of $0.6675 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.67 dividend on an annualized basis and a yield of 5.62%. Dominion Energy’s dividend payout ratio is presently 136.23%.
Insiders Place Their Bets
In other Dominion Energy news, COO Diane Leopold sold 6,250 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $45.51, for a total transaction of $284,437.50. Following the completion of the transaction, the chief operating officer now owns 88,126 shares in the company, valued at $4,010,614.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on D. Mizuho dropped their price target on shares of Dominion Energy from $58.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 6th. Barclays raised shares of Dominion Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $45.00 to $47.00 in a research note on Monday, November 6th. Guggenheim cut their target price on shares of Dominion Energy from $56.00 to $49.00 in a research note on Monday, October 9th. BMO Capital Markets cut their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. Finally, Wells Fargo & Company cut their target price on shares of Dominion Energy from $51.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, October 20th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.33.
About Dominion Energy
Dominion Energy, Inc produces and distributes energy in the United States. It operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.