Confluence Wealth Services Inc. Increases Holdings in Dominion Energy, Inc. (NYSE:D)

Confluence Wealth Services Inc. lifted its stake in shares of Dominion Energy, Inc. (NYSE:D) by 27.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,550 shares of the utilities provider’s stock after buying an additional 1,425 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Dominion Energy were worth $378,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of D. Vanguard Group Inc. increased its stake in shares of Dominion Energy by 16.0% in the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after buying an additional 12,178,713 shares during the last quarter. Capital Research Global Investors grew its holdings in Dominion Energy by 20.1% during the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock worth $1,061,740,000 after acquiring an additional 3,613,614 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Dominion Energy by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after purchasing an additional 2,801,687 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Dominion Energy by 7,438.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock valued at $85,734,000 after purchasing an additional 1,463,858 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Dominion Energy during the second quarter worth about $67,854,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

D has been the topic of a number of recent research reports. Barclays raised their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets upped their target price on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Scotiabank raised their price target on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.40.

Dominion Energy Price Performance

Shares of NYSE:D opened at $57.62 on Tuesday. The company has a market capitalization of $48.34 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.58 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The stock has a fifty day moving average of $57.89 and a 200-day moving average of $54.21. Dominion Energy, Inc. has a one year low of $43.53 and a one year high of $61.97.

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 $0.92 by $0.06. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter last year, the business posted $0.77 EPS. Dominion Energy’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts anticipate that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio is presently 140.53%.

Dominion Energy Company Profile

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.