Eagle Ridge Investment Management Invests $284,000 in Dominion Energy Inc. (D) Stock
Eagle Ridge Investment Management acquired a new position in shares of Dominion Energy Inc. (NYSE:D) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,695 shares of the utilities provider’s stock, valued at approximately $284,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tradewinds Capital Management LLC lifted its stake in Dominion Energy by 0.9% in the second quarter. Tradewinds Capital Management LLC now owns 1,318 shares of the utilities provider’s stock valued at $101,000 after buying an additional 12 shares during the last quarter. MPS Loria Financial Planners LLC bought a new stake in Dominion Energy in the second quarter valued at $103,000. Tortoise Capital Advisors L.L.C. lifted its stake in Dominion Energy by 336.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,396 shares of the utilities provider’s stock valued at $107,000 after buying an additional 1,076 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Dominion Energy in the second quarter valued at $107,000. Finally, Enterprise Financial Services Corp lifted its stake in Dominion Energy by 5.8% in the second quarter. Enterprise Financial Services Corp now owns 1,456 shares of the utilities provider’s stock valued at $112,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.
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D has been the topic of a number of recent research reports. Zacks Investment Research upgraded Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, July 11th. Citigroup Inc. cut their target price on Dominion Energy from $78.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 26th. Deutsche Bank AG raised their target price on Dominion Energy from $76.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $77.00 target price on shares of Dominion Energy in a research note on Monday, August 21st. Finally, KeyCorp reiterated a “hold” rating on shares of Dominion Energy in a research note on Friday, September 1st. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $80.70.
Dominion Energy (NYSE:D) last posted its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.31 billion. Dominion Energy had a return on equity of 13.60% and a net margin of 17.21%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 1st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.81%. This is a positive change from Dominion Energy’s previous quarterly dividend of $0.76. Dominion Energy’s payout ratio is currently 89.09%.
Dominion Energy 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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