Jennison Associates LLC Has $72.88 Million Position in Dominion Energy, Inc. (NYSE:D)

Jennison Associates LLC increased its position in shares of Dominion Energy, Inc. (NYSE:D) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,261,170 shares of the utilities provider’s stock after buying an additional 80,683 shares during the quarter. Jennison Associates LLC’s holdings in Dominion Energy were worth $72,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in Dominion Energy by 161.5% in the 1st quarter. Covestor Ltd now owns 1,650 shares of the utilities provider’s stock valued at $81,000 after buying an additional 1,019 shares during the period. O Shaughnessy Asset Management LLC raised its position in Dominion Energy by 79.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 56,319 shares of the utilities provider’s stock worth $2,770,000 after purchasing an additional 24,862 shares in the last quarter. Bessemer Group Inc. raised its position in Dominion Energy by 3.2% in the first quarter. Bessemer Group Inc. now owns 12,112 shares of the utilities provider’s stock worth $596,000 after purchasing an additional 375 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in Dominion Energy during the first quarter worth about $278,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Dominion Energy by 0.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 350,154 shares of the utilities provider’s stock valued at $17,232,000 after purchasing an additional 1,042 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Scotiabank increased their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays boosted their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Dominion Energy presently has an average rating of “Hold” and an average price target of $55.91.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $57.80 on Thursday. The firm has a 50 day simple moving average of $58.05 and a 200 day simple moving average of $54.73. Dominion Energy, Inc. has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The firm has a market cap of $48.55 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.53 and a beta of 0.59.

Dominion Energy (NYSE:D) last released its earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts predict that Dominion Energy, Inc. will post 2.76 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.62%. Dominion Energy’s payout ratio is presently 93.68%.

About Dominion Energy

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.