Newbridge Financial Services Group Inc. Raises Holdings in Dominion Energy, Inc. (NYSE:D)

Newbridge Financial Services Group Inc. boosted its stake in shares of Dominion Energy, Inc. (NYSE:D) by 380.0% in the 2nd quarter, Holdings Channel reports. The fund owned 2,232 shares of the utilities provider’s stock after buying an additional 1,767 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Dominion Energy were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Dominion Energy by 16.0% during the 1st quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after purchasing an additional 12,178,713 shares in the last quarter. Capital Research Global Investors increased its holdings in Dominion Energy by 136.5% in the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after buying an additional 10,370,768 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Dominion Energy by 12.9% in the first 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 acquiring an additional 2,801,687 shares during the period. Wellington Management Group LLP boosted its stake in shares of Dominion Energy by 13.2% during the 4th quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock worth $869,184,000 after acquiring an additional 2,153,488 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Dominion Energy during the 2nd quarter valued at about $67,854,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

D opened at $58.36 on Thursday. Dominion Energy, Inc. has a twelve month low of $39.18 and a twelve month high of $58.94. The firm has a market capitalization of $48.88 billion, a PE ratio of 30.08, a PEG 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. The firm’s 50-day moving average price is $56.20 and its 200 day moving average price is $52.55.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.67 annualized dividend and a dividend yield of 4.58%. Dominion Energy’s dividend payout ratio is presently 137.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. 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. Jefferies Financial Group assumed coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 target price on the stock. 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. Finally, Scotiabank upped their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Dominion Energy presently has an average rating of “Hold” and an average target price of $54.50.

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.