Dominion Energy Inc. (NYSE:D) Stake Increased by Bridges Investment Counsel Inc.
Bridges Investment Counsel Inc. raised its position in Dominion Energy Inc. (NYSE:D) by 105.4% during the second quarter, Holdings Channel reports. The firm owned 11,022 shares of the utilities provider’s stock after buying an additional 5,655 shares during the period. Bridges Investment Counsel Inc.’s holdings in Dominion Energy were worth $845,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its stake in Dominion Energy by 3,615.9% in the first quarter. BlackRock Inc. now owns 45,518,516 shares of the utilities provider’s stock valued at $3,530,873,000 after buying an additional 44,293,566 shares during the last quarter. Vanguard Group Inc. raised its stake 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 valued at $3,382,237,000 after buying an additional 1,435,767 shares during the last quarter. Wellington Management Group LLP raised its stake in 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 last quarter. Geode Capital Management LLC raised its stake in Dominion Energy by 7.7% in the first quarter. Geode Capital Management LLC now owns 5,843,417 shares of the utilities provider’s stock valued at $452,596,000 after buying an additional 420,250 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake 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 valued at $380,127,000 after buying an additional 949,647 shares during the last quarter. 66.12% of the stock is owned by institutional investors and hedge funds.
Shares of Dominion Energy Inc. (D) traded down 0.55% on Friday, hitting $77.39. The company had a trading volume of 1,462,487 shares. Dominion Energy Inc. has a 52 week low of $69.51 and a 52 week high of $81.65. The company has a market capitalization of $49.73 billion, a price-to-earnings ratio of 22.40 and a beta of 0.28. The stock’s 50-day moving average is $77.07 and its 200 day moving average is $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 for the quarter, beating the consensus estimate of $0.66 by $0.01. Dominion Energy had a return on equity of 14.04% and a net margin of 17.48%. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business earned $0.71 earnings per share. Dominion Energy’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts expect that Dominion Energy Inc. will post $3.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, September 1st will be issued a $0.755 dividend. This represents a $3.02 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Wednesday, August 30th. Dominion Energy’s payout ratio is currently 87.28%.
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Several equities research analysts have recently commented on D shares. Zacks Investment Research raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Royal Bank Of Canada set a $77.00 price target on shares of Dominion Energy and gave the company a “hold” rating in a research report on Saturday, June 3rd. Morgan Stanley reduced their price target on shares of Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Monday, May 8th. Deutsche Bank AG upped their price target 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. Finally, Citigroup Inc. reduced their price target on shares of Dominion Energy from $78.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, July 26th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Dominion Energy presently has a consensus 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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