National Asset Management Inc. Increases Stake in Dominion Energy Inc. (D)
National Asset Management Inc. lifted its stake in shares of Dominion Energy Inc. (NYSE:D) by 30.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,719 shares of the utilities provider’s stock after purchasing an additional 2,058 shares during the period. National Asset Management Inc.’s holdings in Dominion Energy were worth $671,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in D. Janus Henderson Group PLC lifted its holdings in Dominion Energy by 1,955.1% in the second quarter. Janus Henderson Group PLC now owns 1,672,437 shares of the utilities provider’s stock valued at $128,159,000 after buying an additional 1,591,057 shares during the period. Wells Fargo & Company MN increased its stake in Dominion Energy by 24.7% in the second quarter. Wells Fargo & Company MN now owns 6,110,200 shares of the utilities provider’s stock valued at $468,223,000 after purchasing an additional 1,209,768 shares in the last quarter. Vanguard Group Inc. increased its stake in Dominion Energy by 2.7% in the second quarter. Vanguard Group Inc. now owns 44,796,520 shares of the utilities provider’s stock valued at $3,432,756,000 after purchasing an additional 1,194,152 shares in the last quarter. Commonwealth Bank of Australia increased its stake in Dominion Energy by 31.7% in the second quarter. Commonwealth Bank of Australia now owns 4,211,120 shares of the utilities provider’s stock valued at $322,696,000 after purchasing an additional 1,014,670 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in Dominion Energy by 252.4% in the first quarter. Janus Capital Management LLC now owns 820,785 shares of the utilities provider’s stock valued at $63,668,000 after purchasing an additional 587,880 shares in the last quarter. Institutional investors own 64.68% of the company’s stock.
Several brokerages have commented on D. J P Morgan Chase & Co upped their target price on shares of Dominion Energy from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Dominion Energy from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, October 3rd. Gabelli reaffirmed a “hold” rating on shares of Dominion Energy in a research note on Wednesday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of Dominion Energy in a research note on Friday, September 1st. Finally, Citigroup upped their target price on shares of Dominion Energy from $76.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 17th. Fourteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $80.70.
Dominion Energy Inc. (NYSE:D) opened at $83.55 on Tuesday. Dominion Energy Inc. has a 1-year low of $70.87 and a 1-year high of $84.47. The company has a market cap of $53,770.00, a price-to-earnings ratio of 22.77, a P/E/G ratio of 4.11 and a beta of 0.29. The company has a current ratio of 0.47, a quick ratio of 0.29 and a debt-to-equity ratio of 1.67.
Dominion Energy (NYSE:D) last announced its earnings results on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.02. Dominion Energy had a net margin of 17.21% and a return on equity of 13.32%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. analysts forecast that Dominion Energy Inc. will post 3.6 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Friday, December 1st will be issued a dividend of $0.77 per share. This is a boost from Dominion Energy’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, November 30th. This represents a $3.08 annualized dividend and a yield of 3.69%. Dominion Energy’s dividend payout ratio is presently 90.86%.
In related news, Director John W. Harris sold 5,616 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $80.71, for a total transaction of $453,267.36. Following the completion of the transaction, the director now owns 18,920 shares in the company, valued at $1,527,033.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.
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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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