DAVENPORT & Co LLC Has $20.77 Million Holdings in Dominion Energy, Inc. (NYSE:D)

DAVENPORT & Co LLC grew its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 422,328 shares of the utilities provider’s stock after purchasing an additional 34,570 shares during the period. DAVENPORT & Co LLC owned about 0.05% of Dominion Energy worth $20,772,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in D. Wellington Management Group LLP boosted its position in Dominion Energy by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock valued at $869,184,000 after buying an additional 2,153,488 shares in the last quarter. Capital Research Global Investors boosted its position in Dominion Energy by 136.5% in the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after buying an additional 10,370,768 shares in the last quarter. Federated Hermes Inc. boosted its position in Dominion Energy by 1.0% in the fourth quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock valued at $357,769,000 after buying an additional 75,600 shares in the last quarter. Morgan Stanley boosted its position in Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after buying an additional 803,341 shares in the last quarter. Finally, Norges Bank acquired a new stake in Dominion Energy in the fourth quarter valued at approximately $329,792,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Price Performance

Dominion Energy stock traded up $1.88 during midday trading on Thursday, reaching $51.63. 3,763,416 shares of the stock were exchanged, compared to its average volume of 4,788,509. The company’s fifty day moving average is $51.34 and its 200-day moving average is $48.80. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05. The firm has a market cap of $43.24 billion, a PE ratio of 25.64, a PEG ratio of 1.32 and a beta of 0.58. Dominion Energy, Inc. has a 52 week low of $39.18 and a 52 week high of $54.74.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, sell-side analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 5.17%. The ex-dividend date was Friday, May 31st. Dominion Energy’s dividend payout ratio is currently 137.63%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on D shares. Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $43.00 to $54.00 in a report on Friday, May 10th. Wells Fargo & Company boosted their target price on shares of Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. BMO Capital Markets dropped their target price on shares of Dominion Energy from $52.00 to $51.00 and set a “market perform” rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, Barclays decreased their price target on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.64.

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.