Element Capital Management LLC bought a new stake in Dominion Energy, Inc. (NYSE:D – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 110,435 shares of the utilities provider’s stock, valued at approximately $6,174,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tucker Asset Management LLC bought a new stake in Dominion Energy during the first quarter worth $25,000. AXS Investments LLC bought a new stake in Dominion Energy during the fourth quarter worth $30,000. Core Alternative Capital lifted its stake in shares of Dominion Energy by 63.0% in the 1st quarter. Core Alternative Capital now owns 533 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 206 shares during the last quarter. Carderock Capital Management Inc. bought a new position in shares of Dominion Energy in the 1st quarter valued at $34,000. Finally, Covestor Ltd lifted its stake in shares of Dominion Energy by 49.8% in the 1st quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 70.66% of the company’s stock.
Wall Street Analyst Weigh In
D has been the subject of several analyst reports. Bank of America lowered their target price on Dominion Energy from $54.00 to $52.00 in a research report on Tuesday, May 16th. Wells Fargo & Company decreased their price target on Dominion Energy from $61.00 to $55.00 in a report on Monday, July 3rd. Barclays assumed coverage on Dominion Energy in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $52.00 target price for the company. The Goldman Sachs Group began coverage on Dominion Energy in a research note on Wednesday, June 7th. They issued a “neutral” rating for the company. Finally, StockNews.com began coverage on Dominion Energy in a research note on Thursday, August 17th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Dominion Energy has a consensus rating of “Hold” and a consensus target price of $55.09.
Dominion Energy Trading Down 1.6 %
Shares of NYSE:D traded down $0.76 during midday trading on Wednesday, hitting $46.03. 5,048,250 shares of the stock traded hands, compared to its average volume of 4,266,317. The stock has a market capitalization of $38.52 billion, a PE ratio of 17.33, a P/E/G ratio of 0.68 and a beta of 0.46. The business’s 50 day moving average is $50.74 and its two-hundred day moving average is $53.34. The company has a quick ratio of 0.44, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. Dominion Energy, Inc. has a one year low of $45.88 and a one year high of $84.45.
Dominion Energy (NYSE:D – Get Free Report) last released its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Dominion Energy had a net margin of 12.71% and a return on equity of 11.94%. Dominion Energy’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, research analysts forecast that Dominion Energy, Inc. will post 3.51 earnings per share for the current year.
Dominion Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Thursday, August 31st. Dominion Energy’s payout ratio is 98.89%.
Dominion Energy Profile
Dominion Energy, Inc produces and distributes energy in the United States. It operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
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