Magellan Asset Management Ltd Has $213.04 Million Stock Position in Dominion Energy, Inc. (NYSE:D)

Magellan Asset Management Ltd lowered its position in Dominion Energy, Inc. (NYSE:D) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,955,452 shares of the utilities provider’s stock after selling 238,696 shares during the quarter. Dominion Energy accounts for about 2.3% of Magellan Asset Management Ltd’s holdings, making the stock its 19th largest position. Magellan Asset Management Ltd owned 0.47% of Dominion Energy worth $213,041,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC bought a new position in Dominion Energy during the third quarter worth about $210,000. PDT Partners LLC acquired a new stake in shares of Dominion Energy in the third quarter valued at about $329,000. Benjamin Edwards Inc. raised its stake in shares of Dominion Energy by 4,587.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 15,468 shares of the utilities provider’s stock worth $894,000 after purchasing an additional 15,138 shares in the last quarter. Holocene Advisors LP lifted its stake in Dominion Energy by 264.6% in the third quarter. Holocene Advisors LP now owns 59,497 shares of the utilities provider’s stock valued at $3,438,000 after acquiring an additional 43,177 shares during the last quarter. Finally, Hilltop Holdings Inc. lifted its stake in Dominion Energy by 28.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 16,019 shares of the utilities provider’s stock valued at $926,000 after purchasing an additional 3,547 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Performance

D opened at $56.27 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 12-month low of $46.62 and a 12-month high of $61.97. The company has a market cap of $47.95 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.22 and a beta of 0.57. The company’s 50 day moving average is $55.26 and its 200 day moving average is $56.15.

Dominion Energy (NYSE:D) last issued its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. On average, equities research analysts predict that Dominion Energy, Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a $0.6675 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.67 annualized dividend and a yield of 4.74%. Dominion Energy’s dividend payout ratio (DPR) is 98.89%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their target price on Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their target price on Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Scotiabank boosted their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Argus upgraded shares of Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. Finally, UBS Group upped their price target on Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.58.

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.