Dominion Energy, Inc. (NYSE:D) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its position in shares of Dominion Energy, Inc. (NYSE:D) by 72.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,376,955 shares of the utilities provider’s stock after acquiring an additional 578,860 shares during the quarter. 1832 Asset Management L.P.’s holdings in Dominion Energy were worth $67,471,000 at the end of the most recent quarter.

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

Dominion Energy Price Performance

D stock opened at $57.93 on Monday. The business’s 50-day moving average is $55.23 and its two-hundred day moving average is $52.02. 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 firm has a market capitalization of $48.52 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.57 and a beta of 0.60. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $58.94.

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, beating the consensus estimate 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 analysts’ expectations of $3.73 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.61%. Dominion Energy’s payout ratio is currently 137.63%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on D. 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 report on Tuesday, August 20th. BMO Capital Markets upped their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group began coverage on Dominion Energy in a research note on Friday. They set a “hold” rating and a $58.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.