Asset Dedication LLC Has $487,000 Stock Position in Dominion Energy, Inc. (NYSE:D)

Asset Dedication LLC reduced its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 42.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,428 shares of the utilities provider’s stock after selling 6,139 shares during the quarter. Asset Dedication LLC’s holdings in Dominion Energy were worth $487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in D. Vanguard Group Inc. raised its holdings in Dominion Energy by 16.0% during the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after acquiring an additional 12,178,713 shares in the last quarter. Capital Research Global Investors increased its position in shares of Dominion Energy by 20.1% during the 1st 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 last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Dominion Energy by 12.9% during the 1st 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 purchasing an additional 2,801,687 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Dominion Energy in the 2nd quarter valued at approximately $67,854,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Dominion Energy by 6.7% in 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 buying an additional 940,402 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

NYSE:D opened at $60.55 on Thursday. The stock has a 50 day simple moving average of $56.88 and a 200 day simple moving average of $53.17. The stock has a market cap of $50.72 billion, a P/E ratio of 31.21, a PEG ratio of 1.52 and a beta of 0.60. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $60.72. 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 (NYSE:D) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share 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 during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Research analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders 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 4.41%. Dominion Energy’s payout ratio is presently 137.63%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on D. Jefferies Financial Group began coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. JPMorgan Chase & Co. raised their target price 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. Barclays boosted their price target on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday. BMO Capital Markets raised their price objective on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Finally, Scotiabank lifted their target price on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Dominion Energy currently has a consensus rating of “Hold” and a consensus price target of $55.40.

About Dominion Energy

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.