State Treasurer State of Michigan raised its stake in shares of Dominion Energy Inc. (NYSE:D) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 206,749 shares of the utilities provider’s stock after buying an additional 400 shares during the period. State Treasurer State of Michigan’s holdings in Dominion Energy were worth $15,843,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Dominion Energy by 3,615.9% in the first quarter. BlackRock Inc. now owns 45,518,516 shares of the utilities provider’s stock worth $3,530,873,000 after buying an additional 44,293,566 shares during the period. Vanguard Group Inc. increased its position in Dominion Energy by 3.4% in the first quarter. Vanguard Group Inc. now owns 43,602,368 shares of the utilities provider’s stock worth $3,382,237,000 after buying an additional 1,435,767 shares in the last quarter. Wells Fargo & Company MN increased its position in Dominion Energy by 24.0% in the first quarter. Wells Fargo & Company MN now owns 4,900,432 shares of the utilities provider’s stock worth $380,127,000 after buying an additional 949,647 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Dominion Energy by 44.1% in the first quarter. Epoch Investment Partners Inc. now owns 2,741,725 shares of the utilities provider’s stock valued at $212,676,000 after buying an additional 838,574 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Dominion Energy by 2.7% in the first quarter. Wellington Management Group LLP now owns 30,572,031 shares of the utilities provider’s stock valued at $2,371,472,000 after buying an additional 790,484 shares during the period. Hedge funds and other institutional investors own 66.12% of the company’s stock.
Dominion Energy Inc. (NYSE D) traded down 0.55% during trading on Friday, reaching $77.39. 1,462,487 shares of the company were exchanged. The firm has a market capitalization of $49.73 billion, a PE ratio of 22.40 and a beta of 0.28. Dominion Energy Inc. has a 12 month low of $69.51 and a 12 month high of $81.65. The stock has a 50 day moving average price of $77.07 and a 200 day moving average price of $77.23.
Dominion Energy (NYSE:D) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.94 billion. Dominion Energy had a net margin of 17.48% and a return on equity of 14.04%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. On average, analysts expect that Dominion Energy Inc. will post $3.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 1st will be issued a $0.755 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.90%. Dominion Energy’s dividend payout ratio is presently 87.28%.
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Several research analysts recently issued reports on the stock. Royal Bank Of Canada set a $77.00 target price on shares of Dominion Energy and gave the stock a “hold” rating in a report on Saturday, June 3rd. Morgan Stanley cut their price objective on shares of Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating for the company in a report on Monday, May 8th. Deutsche Bank AG lifted their target price on shares of Dominion Energy from $76.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Dominion Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Finally, BidaskClub lowered shares of Dominion Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $80.57.
Dominion Energy Company 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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