ICICI Prudential Asset Management Co Ltd bought a new position in shares of Dominion Energy, Inc. (NYSE:D – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 53,374 shares of the utilities provider’s stock, valued at approximately $4,193,000.
Several other hedge funds have also recently modified their holdings of the stock. Magellan Asset Management Ltd raised its holdings in shares of Dominion Energy by 524.5% in the third quarter. Magellan Asset Management Ltd now owns 2,367,098 shares of the utilities provider’s stock valued at $172,846,000 after buying an additional 1,988,054 shares during the last quarter. Bank of New York Mellon Corp grew its position in Dominion Energy by 20.7% during the third quarter. Bank of New York Mellon Corp now owns 9,118,316 shares of the utilities provider’s stock worth $665,818,000 after buying an additional 1,560,823 shares during the period. Brookfield Asset Management Inc. increased its stake in shares of Dominion Energy by 5,247.4% during the 3rd quarter. Brookfield Asset Management Inc. now owns 1,251,300 shares of the utilities provider’s stock worth $91,370,000 after purchasing an additional 1,227,900 shares in the last quarter. Eaton Vance Management increased its position in Dominion Energy by 952.7% during the third quarter. Eaton Vance Management now owns 974,859 shares of the utilities provider’s stock worth $70,319,000 after buying an additional 882,256 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Dominion Energy by 431.8% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 904,371 shares of the utilities provider’s stock worth $66,037,000 after acquiring an additional 734,311 shares during the last quarter. Hedge funds and other institutional investors own 67.04% of the company’s stock.
Several equities research analysts have commented on the company. KeyCorp upped their price target on Dominion Energy from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Morgan Stanley upped their target price on Dominion Energy from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 20th. StockNews.com assumed coverage on Dominion Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. UBS Group raised Dominion Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $81.00 to $98.00 in a report on Wednesday, January 5th. Finally, Barclays initiated coverage on Dominion Energy in a research note on Tuesday, January 25th. They set an “equal weight” rating and a $86.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.25.
Dominion Energy (NYSE:D – Get Rating) last issued its earnings results on Friday, February 11th. The utilities provider reported $0.90 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.90. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Dominion Energy had a return on equity of 12.70% and a net margin of 23.55%. Dominion Energy’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, equities research analysts forecast that Dominion Energy, Inc. will post 4.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Sunday, March 20th. Shareholders of record on Friday, March 4th were issued a dividend of $0.6675 per share. This is a positive change from Dominion Energy’s previous quarterly dividend of $0.63. This represents a $2.67 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, March 3rd. Dominion Energy’s dividend payout ratio (DPR) is 67.09%.
About Dominion Energy (Get Rating)
Dominion Energy, Inc produces and distributes energy. The company 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 residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
- Get a free copy of the StockNews.com research report on Dominion Energy (D)
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