Exchange Capital Management Inc. Increases Stake in Dominion Energy Inc (D)
Exchange Capital Management Inc. grew its position in Dominion Energy Inc (NYSE:D) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,643 shares of the utilities provider’s stock after acquiring an additional 833 shares during the period. Exchange Capital Management Inc.’s holdings in Dominion Energy were worth $2,761,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the company. Heritage Trust Co grew its holdings in Dominion Energy by 58.8% during the fourth quarter. Heritage Trust Co now owns 405 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 150 shares during the period. Cornerstone Advisors Inc. grew its holdings in Dominion Energy by 10.2% during the fourth quarter. Cornerstone Advisors Inc. now owns 1,765 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 164 shares during the period. Vigilant Capital Management LLC grew its holdings in Dominion Energy by 14.3% during the fourth quarter. Vigilant Capital Management LLC now owns 1,320 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 165 shares during the period. Boston Financial Mangement LLC grew its holdings in Dominion Energy by 2.8% during the fourth quarter. Boston Financial Mangement LLC now owns 6,501 shares of the utilities provider’s stock worth $465,000 after acquiring an additional 175 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in Dominion Energy by 20.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,066 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 182 shares during the period. 67.13% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on D. JPMorgan Chase & Co. lowered Dominion Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $79.00 to $73.00 in a report on Tuesday, January 22nd. Zacks Investment Research lowered Dominion Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Macquarie set a $78.00 target price on Dominion Energy and gave the stock a “buy” rating in a report on Monday, January 14th. Bank of America lowered Dominion Energy from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $72.00 to $69.00 in a report on Friday, January 11th. Finally, ValuEngine lowered Dominion Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $85.55.
Shares of D stock opened at $71.45 on Tuesday. The company has a market cap of $46.59 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.21. The company has a current ratio of 0.62, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. Dominion Energy Inc has a 12-month low of $61.53 and a 12-month high of $77.19.
Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, February 1st. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Dominion Energy had a return on equity of 13.15% and a net margin of 18.31%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. On average, research analysts predict that Dominion Energy Inc will post 4.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st will be given a dividend of $0.9175 per share. The ex-dividend date is Thursday, February 28th. This represents a $3.67 dividend on an annualized basis and a yield of 5.14%. This is an increase from Dominion Energy’s previous quarterly dividend of $0.84. Dominion Energy’s dividend payout ratio is currently 82.47%.
Dominion Energy Profile
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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