Jennison Associates LLC Reduces Stock Position in Dominion Energy, Inc. (NYSE:D)

Jennison Associates LLC decreased its position in shares of Dominion Energy, Inc. (NYSE:D) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,244,966 shares of the utilities provider’s stock after selling 16,204 shares during the quarter. Jennison Associates LLC owned 0.15% of Dominion Energy worth $67,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Chicago Capital LLC increased its holdings in Dominion Energy by 6.4% during the 4th quarter. Chicago Capital LLC now owns 3,999 shares of the utilities provider’s stock valued at $215,000 after acquiring an additional 240 shares in the last quarter. CENTRAL TRUST Co grew its position in shares of Dominion Energy by 7.0% in the fourth quarter. CENTRAL TRUST Co now owns 31,427 shares of the utilities provider’s stock valued at $1,693,000 after purchasing an additional 2,061 shares during the last quarter. Greenleaf Trust increased its stake in shares of Dominion Energy by 2.2% during the 4th quarter. Greenleaf Trust now owns 16,497 shares of the utilities provider’s stock worth $889,000 after purchasing an additional 349 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Dominion Energy by 4.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,364 shares of the utilities provider’s stock worth $1,797,000 after purchasing an additional 1,421 shares during the last quarter. Finally, Evermay Wealth Management LLC lifted its stake in Dominion Energy by 364.0% in the 4th quarter. Evermay Wealth Management LLC now owns 7,433 shares of the utilities provider’s stock valued at $400,000 after buying an additional 5,831 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $56.31 on Tuesday. The business has a 50-day moving average of $54.96 and a two-hundred day moving average of $56.12. The firm has a market capitalization of $47.30 billion, a PE ratio of 19.76, a P/E/G ratio of 1.21 and a beta of 0.61. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. Dominion Energy, Inc. has a 12 month low of $43.53 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.67 annualized dividend and a dividend yield of 4.74%. Dominion Energy’s payout ratio is 93.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on D shares. Morgan Stanley started coverage on Dominion Energy in a report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price target for the company. Barclays boosted their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group reiterated a “neutral” rating and set a $61.00 price target on shares of Dominion Energy in a report on Friday, November 8th. Finally, Scotiabank upped their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and a consensus target price of $56.58.

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.