Morse Asset Management Inc Takes $734,000 Position in Dominion Energy, Inc. (NYSE:D)

Morse Asset Management Inc bought a new stake in shares of Dominion Energy, Inc. (NYSE:D) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,704 shares of the utilities provider’s stock, valued at approximately $734,000.

Other hedge funds have also modified their holdings of the company. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Dominion Energy during the third quarter valued at $28,000. Family Firm Inc. acquired a new position in Dominion Energy during the second quarter valued at $27,000. Frazier Financial Advisors LLC acquired a new position in Dominion Energy during the third quarter valued at $32,000. Dunhill Financial LLC raised its position in Dominion Energy by 601.2% during the third quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock valued at $33,000 after buying an additional 487 shares during the period. Finally, Larson Financial Group LLC raised its position in Dominion Energy by 282.4% during the third quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock valued at $35,000 after buying an additional 449 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of D stock opened at $54.29 on Thursday. The stock has a 50 day moving average of $58.02 and a two-hundred day moving average of $55.20. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 12 month low of $43.53 and a 12 month high of $61.97. The company has a market capitalization of $45.60 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.49 and a beta of 0.59.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.18 billion. During the same quarter last year, the company earned $0.77 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts expect that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a $0.6675 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.92%. Dominion Energy’s payout ratio is presently 93.68%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on D. Jefferies Financial Group began coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Scotiabank upped their target price on 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 upped their target price on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Morgan Stanley began coverage on Dominion Energy in a research report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research report on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Dominion Energy currently has an average rating of “Hold” and a consensus target price of $56.33.

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.