Sar Wealth Management Group LLC Takes $351,000 Position in Dominion Energy, Inc. (NYSE:D)

Sar Wealth Management Group LLC acquired a new stake in Dominion Energy, Inc. (NYSE:D) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,477 shares of the utilities provider’s stock, valued at approximately $351,000. Dominion Energy accounts for about 0.4% of Sar Wealth Management Group LLC’s holdings, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP raised its holdings in Dominion Energy by 631.2% in the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after purchasing an additional 14,105,237 shares during the period. Norges Bank acquired a new position in Dominion Energy in the 4th quarter worth about $329,792,000. ClearBridge Investments Ltd acquired a new position in Dominion Energy in the 4th quarter worth about $214,220,000. JPMorgan Chase & Co. raised its holdings in Dominion Energy by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock worth $1,045,051,000 after purchasing an additional 1,928,823 shares during the period. Finally, Magellan Asset Management Ltd raised its holdings in Dominion Energy by 53.1% in the 3rd quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock worth $199,800,000 after purchasing an additional 1,551,611 shares during the period. Institutional investors and hedge funds own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Scotiabank cut their price objective on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $43.00 to $54.00 in a research note on Friday, May 10th. Guggenheim cut their price objective on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Mizuho boosted their price objective on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Barclays cut their price objective on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.73.

Dominion Energy Trading Up 0.2 %

D traded up $0.10 during trading hours on Tuesday, reaching $52.89. The company’s stock had a trading volume of 4,440,801 shares, compared to its average volume of 5,028,126. Dominion Energy, Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $54.74. The stock has a market cap of $44.30 billion, a PE ratio of 27.26, a P/E/G ratio of 1.41 and a beta of 0.59. The business’s 50-day moving average is $50.53 and its 200-day moving average is $48.06. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Friday, May 31st. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Insiders Place Their Bets

In other news, Director Joseph M. Rigby purchased 2,130 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the purchase, the director now directly owns 8,417 shares of the company’s stock, valued at $395,093.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Robert M. Blue acquired 21,735 shares of Dominion Energy stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the purchase, the chief executive officer now owns 176,240 shares in the company, valued at $8,091,178.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph M. Rigby acquired 2,130 shares of Dominion Energy stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the purchase, the director now owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The disclosure for this purchase can be found here. 0.12% of the stock is owned by insiders.

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.