Summit Securities Group LLC Raises Stake in Dominion Energy, Inc. (NYSE:D)

Summit Securities Group LLC grew its holdings in Dominion Energy, Inc. (NYSE:D - Free Report) by 5,500.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,600 shares of the utilities provider's stock after purchasing an additional 5,500 shares during the period. Summit Securities Group LLC's holdings in Dominion Energy were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Dominion Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider's stock valued at $4,821,222,000 after buying an additional 674,859 shares in the last quarter. State Street Corp grew its position in Dominion Energy by 3.2% in the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider's stock valued at $2,559,972,000 after acquiring an additional 1,365,555 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Dominion Energy by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider's stock worth $1,653,964,000 after purchasing an additional 1,222,688 shares during the period. Geode Capital Management LLC lifted its position in shares of Dominion Energy by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider's stock worth $1,032,941,000 after purchasing an additional 367,193 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Dominion Energy by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider's stock valued at $804,606,000 after purchasing an additional 1,068,996 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dominion Energy Stock Down 0.3 %

Shares of Dominion Energy stock traded down $0.16 during trading hours on Thursday, hitting $56.07. The company had a trading volume of 2,356,262 shares, compared to its average volume of 4,785,294. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The company's 50-day moving average is $55.26 and its two-hundred day moving average is $56.15. The company has a market cap of $47.78 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57. Dominion Energy, Inc. has a twelve month low of $46.62 and a twelve month high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. Analysts anticipate that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Friday, February 28th. Dominion Energy's dividend payout ratio (DPR) is 98.89%.

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.