Dominion Energy, Inc. (NYSE:D) Stake Lifted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its stake in Dominion Energy, Inc. (NYSE:D) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,635,621 shares of the utilities provider’s stock after buying an additional 477,181 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.53% of Dominion Energy worth $1,452,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of D. Pinnacle Wealth Management Advisory Group LLC increased its position in Dominion Energy by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,909 shares of the utilities provider’s stock valued at $535,000 after acquiring an additional 195 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Dominion Energy by 8.6% in the 2nd quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 198 shares during the period. Altman Advisors Inc. boosted its holdings in shares of Dominion Energy by 0.7% in the second quarter. Altman Advisors Inc. now owns 29,031 shares of the utilities provider’s stock valued at $1,423,000 after acquiring an additional 198 shares in the last quarter. Centennial Wealth Advisory LLC increased its stake in shares of Dominion Energy by 2.8% during the second quarter. Centennial Wealth Advisory LLC now owns 7,381 shares of the utilities provider’s stock valued at $362,000 after acquiring an additional 199 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in Dominion Energy by 0.9% during the first quarter. Ridgewood Investments LLC now owns 24,536 shares of the utilities provider’s stock worth $1,207,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on D shares. BMO Capital Markets lifted their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, 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 report on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.11.

Dominion Energy Price Performance

D stock opened at $58.16 on Monday. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $58.18. The firm has a 50-day moving average of $54.47 and a two-hundred day moving average of $51.62. The firm has a market capitalization of $48.79 billion, a PE ratio of 29.98, a P/E/G ratio of 1.53 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.59%. Dominion Energy’s dividend payout ratio is 137.63%.

Dominion Energy 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.