Concord Asset Management LLC VA Buys 2,373 Shares of Dominion Energy, Inc. (NYSE:D)

Concord Asset Management LLC VA lifted its stake in shares of Dominion Energy, Inc. (NYSE:D) by 57.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,497 shares of the utilities provider’s stock after purchasing an additional 2,373 shares during the period. Concord Asset Management LLC VA’s holdings in Dominion Energy were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BLB&B Advisors LLC lifted its holdings in Dominion Energy by 2.5% during the 3rd quarter. BLB&B Advisors LLC now owns 7,223 shares of the utilities provider’s stock valued at $417,000 after purchasing an additional 173 shares during the last quarter. Simon Quick Advisors LLC raised its position in shares of Dominion Energy by 4.5% in the fourth quarter. Simon Quick Advisors LLC now owns 4,250 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 184 shares during the period. Cobblestone Capital Advisors LLC NY lifted its stake in shares of Dominion Energy by 2.6% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 7,786 shares of the utilities provider’s stock worth $450,000 after buying an additional 195 shares during the last quarter. Passumpsic Savings Bank boosted its holdings in shares of Dominion Energy by 2.7% during the 3rd quarter. Passumpsic Savings Bank now owns 7,639 shares of the utilities provider’s stock worth $441,000 after buying an additional 199 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Dominion Energy by 3.5% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,920 shares of the utilities provider’s stock valued at $342,000 after acquiring an additional 200 shares during the period. 73.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $55.47 on Friday. The company’s 50 day moving average price is $54.96 and its two-hundred day moving average price is $56.05. The firm has a market capitalization of $46.60 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.20 and a beta of 0.60. 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 fifty-two week low of $43.53 and a fifty-two week high of $61.97.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.81%. The ex-dividend date is Friday, February 28th. Dominion Energy’s dividend payout ratio (DPR) is currently 93.68%.

Dominion Energy 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.