Commonwealth Equity Services LLC Increases Holdings in Dominion Energy, Inc. (NYSE:D)

Commonwealth Equity Services LLC boosted its stake in shares of Dominion Energy, Inc. (NYSE:D) by 7.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 563,657 shares of the utilities provider’s stock after purchasing an additional 40,180 shares during the period. Commonwealth Equity Services LLC’s holdings in Dominion Energy were worth $27,619,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Dominion Energy by 16.0% during the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after buying an additional 12,178,713 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 valued at $1,204,904,000 after acquiring an additional 2,801,687 shares during the last quarter. Capital Research Global Investors increased its stake in Dominion Energy by 20.1% in the first quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock worth $1,061,740,000 after purchasing an additional 3,613,614 shares during the period. Wellington Management Group LLP lifted its position in shares of Dominion Energy by 13.2% during the fourth quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock worth $869,184,000 after purchasing an additional 2,153,488 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Dominion Energy by 6.7% during the second 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 purchasing an additional 940,402 shares during the period. 73.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

D has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target 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. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. BMO Capital Markets increased their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Scotiabank lifted their price objective on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $43.00 to $54.00 in a report on Friday, May 10th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Dominion Energy has a consensus rating of “Hold” and an average target price of $54.00.

Dominion Energy Price Performance

Shares of D stock opened at $55.90 on Monday. The company has a market cap of $46.90 billion, a P/E ratio of 28.81, a PEG ratio of 1.49 and a beta of 0.58. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. The stock’s 50-day moving average is $52.85 and its 200 day moving average is $50.87. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $57.60.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently disclosed 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 is Friday, August 30th. This represents a $2.67 annualized dividend and a dividend yield of 4.78%. Dominion Energy’s dividend payout ratio is presently 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.