Dominion Energy Inc. (D) Stake Boosted by Covington Capital Management
Covington Capital Management raised its position in Dominion Energy Inc. (NYSE:D) by 0.1% during the first quarter, Holdings Channel reports. The fund owned 59,097 shares of the utilities provider’s stock after buying an additional 30 shares during the period. Covington Capital Management’s holdings in Dominion Energy were worth $4,584,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Tradewinds Capital Management LLC increased its position in shares of Dominion Energy by 1.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,306 shares of the utilities provider’s stock worth $101,000 after buying an additional 13 shares during the last quarter. Enterprise Financial Services Corp increased its position in shares of Dominion Energy by 62.6% in the first quarter. Enterprise Financial Services Corp now owns 1,376 shares of the utilities provider’s stock worth $107,000 after buying an additional 530 shares during the last quarter. Clean Yield Group acquired a new position in shares of Dominion Energy during the first quarter worth about $117,000. Bollard Group LLC increased its position in shares of Dominion Energy by 0.9% in the first quarter. Bollard Group LLC now owns 1,516 shares of the utilities provider’s stock worth $118,000 after buying an additional 13 shares during the last quarter. Finally, Advantage Investment Management LLC increased its position in shares of Dominion Energy by 247.7% in the first quarter. Advantage Investment Management LLC now owns 1,582 shares of the utilities provider’s stock worth $123,000 after buying an additional 1,127 shares during the last quarter. 66.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dominion Energy Inc. (NYSE:D) traded down 0.35% on Thursday, hitting $77.57. 416,548 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $77.15 and its 200 day moving average price is $77.21. The stock has a market cap of $49.85 billion, a price-to-earnings ratio of 22.45 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.
Dominion Energy (NYSE:D) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $2.81 billion for 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 quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. On average, equities analysts predict that Dominion Energy Inc. will post $3.64 earnings per share for the current fiscal year.
The company also recently announced 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. This represents a $3.02 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Wednesday, August 30th. Dominion Energy’s payout ratio is 87.28%.
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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, July 11th. Morgan Stanley dropped their price objective on shares of Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Royal Bank Of Canada set a $77.00 price objective on shares of Dominion Energy and gave the company a “hold” rating in a report on Saturday, June 3rd. BidaskClub lowered shares of Dominion Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Deutsche Bank AG boosted their price objective on shares of Dominion Energy from $76.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus 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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