Garner Asset Management Corp Acquires 658 Shares of Dominion Energy, Inc. (NYSE:D)

Garner Asset Management Corp grew its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,454 shares of the utilities provider’s stock after buying an additional 658 shares during the quarter. Garner Asset Management Corp’s holdings in Dominion Energy were worth $1,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in shares of Dominion Energy by 7,438.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock worth $85,734,000 after purchasing an additional 1,463,858 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Dominion Energy in the 2nd quarter valued at about $67,854,000. Assenagon Asset Management S.A. grew its stake in Dominion Energy by 707.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,211,939 shares of the utilities provider’s stock valued at $70,038,000 after buying an additional 1,061,829 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Dominion Energy by 6.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock valued at $734,007,000 after buying an additional 940,402 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Dominion Energy by 2,729.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 933,087 shares of the utilities provider’s stock valued at $53,923,000 after buying an additional 900,114 shares during the last quarter. 73.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on D. Scotiabank upped their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Barclays upped their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price target on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research note on Friday, November 8th. Finally, BMO Capital Markets increased their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.91.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $58.14 on Friday. The company’s 50 day moving average price is $58.07 and its two-hundred day moving average price is $54.82. Dominion Energy, Inc. has a 12-month low of $43.53 and a 12-month high of $61.97. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The firm has a market cap of $48.84 billion, a PE ratio of 20.40, a PEG ratio of 1.55 and a beta of 0.59.

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

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th 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 4.59%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s dividend payout ratio (DPR) 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.