The Manufacturers Life Insurance Company Has $71.78 Million Stake in Dominion Energy, Inc. (NYSE:D)

The Manufacturers Life Insurance Company grew its holdings in Dominion Energy, Inc. (NYSE:D) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,464,803 shares of the utilities provider’s stock after purchasing an additional 29,963 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.17% of Dominion Energy worth $71,775,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in D. Pinnacle Wealth Management Advisory Group LLC boosted its holdings 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 purchasing an additional 195 shares during the period. Valley National Advisers Inc. grew its position in Dominion Energy by 8.6% during the second quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock worth $122,000 after buying an additional 198 shares in the last quarter. Altman Advisors Inc. increased its stake in Dominion Energy by 0.7% during 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 during the period. Centennial Wealth Advisory LLC raised its holdings in Dominion Energy by 2.8% in the 2nd 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 in the last quarter. Finally, Ridgewood Investments LLC lifted its position in shares of Dominion Energy by 0.9% in the 1st quarter. Ridgewood Investments LLC now owns 24,536 shares of the utilities provider’s stock worth $1,207,000 after acquiring an additional 210 shares during the period. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Stock Performance

NYSE:D opened at $57.16 on Friday. The stock has a market capitalization of $47.88 billion, a P/E ratio of 29.46, a price-to-earnings-growth 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, Inc. has a 1 year low of $39.18 and a 1 year high of $58.94. The firm has a 50 day moving average of $55.81 and a 200-day moving average of $52.33.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The company 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 firm earned $0.53 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a dividend of $0.6675 per share. The ex-dividend date was Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.67%. Dominion Energy’s payout ratio is 137.63%.

Analysts Set New Price Targets

A number of brokerages recently commented on D. 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 research note on Monday, August 5th. Scotiabank raised their price objective on shares of 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 started coverage on shares of Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.50.

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.