Garner Asset Management Corp Buys 658 Shares of Dominion Energy, Inc. (NYSE:D)

Garner Asset Management Corp boosted its stake in Dominion Energy, Inc. (NYSE:D) by 3.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,454 shares of the utilities provider’s stock after acquiring an additional 658 shares during the quarter. Garner Asset Management Corp’s holdings in Dominion Energy were worth $1,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Family Firm Inc. bought a new position in shares of Dominion Energy during the second quarter valued at $27,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Dominion Energy during the third quarter valued at $28,000. LRI Investments LLC bought a new position in shares of Dominion Energy during the first quarter valued at $30,000. Frazier Financial Advisors LLC bought a new position in shares of Dominion Energy during the third quarter valued at $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Dominion Energy during the second quarter valued at $33,000. Institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on D shares. BMO Capital Markets increased their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Barclays increased their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Jefferies Financial Group started coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price objective for the company. Finally, Scotiabank increased 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. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.91.

Dominion Energy Stock Performance

Shares of D stock opened at $58.14 on Friday. The firm has a market cap of $48.84 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.55 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. The firm’s 50-day simple moving average is $58.07 and its two-hundred day simple moving average is $54.82. Dominion Energy, Inc. has a 52 week low of $43.53 and a 52 week high of $61.97.

Dominion Energy (NYSE:D) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. As a group, equities analysts forecast that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.59%. Dominion Energy’s payout ratio is 93.68%.

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.