abrdn plc Raises Stake in Dominion Energy, Inc. (NYSE:D)

abrdn plc boosted its holdings in Dominion Energy, Inc. (NYSE:D) by 16.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 358,900 shares of the utilities provider’s stock after purchasing an additional 50,150 shares during the quarter. abrdn plc’s holdings in Dominion Energy were worth $20,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Dominion Energy by 16.0% in the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after buying an additional 12,178,713 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Dominion Energy by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider’s stock worth $1,452,145,000 after acquiring an additional 477,181 shares during the period. Price T Rowe Associates Inc. MD grew its position in 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 valued at $1,204,904,000 after acquiring an additional 2,801,687 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Dominion Energy by 20.1% during the first quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock valued at $1,061,740,000 after purchasing an additional 3,613,614 shares during the period. Finally, Bank of New York Mellon Corp lifted its position 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 worth $734,007,000 after purchasing an additional 940,402 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Price Performance

Shares of NYSE D opened at $59.53 on Friday. 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 company has a market capitalization of $49.86 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 1.59 and a beta of 0.60. Dominion Energy, Inc. has a twelve month low of $39.44 and a twelve month high of $61.26. The business has a 50 day simple moving average of $57.82 and a 200-day simple moving average of $53.98.

Dominion Energy (NYSE:D) last released 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 during 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 firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts expect that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.49%. Dominion Energy’s dividend payout ratio is presently 137.63%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on D shares. Scotiabank raised their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their target price on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. BMO Capital Markets boosted 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. Jefferies Financial Group began coverage on Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 price objective for the company. Finally, Barclays upped their target price on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.40.

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.