JPMorgan Chase & Co. Increases Stake in Dominion Energy, Inc. (NYSE:D)

JPMorgan Chase & Co. raised its stake in Dominion Energy, Inc. (NYSE:D - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,620,242 shares of the utilities provider's stock after purchasing an additional 1,222,688 shares during the quarter. JPMorgan Chase & Co. owned 3.41% of Dominion Energy worth $1,653,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Sanctuary Wealth Management L.L.C. bought a new stake in Dominion Energy in the 3rd quarter worth about $28,000. Frazier Financial Advisors LLC bought a new position in shares of Dominion Energy in the third quarter valued at approximately $32,000. Dunhill Financial LLC grew its holdings in shares of Dominion Energy by 601.2% in the third quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 487 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Dominion Energy by 282.4% during the third quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 449 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Dominion Energy during the second quarter worth $36,000. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Trading Up 0.4 %

Dominion Energy stock traded up $0.22 during mid-day trading on Friday, hitting $53.93. The company's stock had a trading volume of 2,930,930 shares, compared to its average volume of 4,449,124. The business has a 50 day moving average price of $56.94 and a 200-day moving average price of $55.25. 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 12 month low of $43.53 and a 12 month high of $61.97. The stock has a market cap of $45.30 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. Dominion Energy's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. As a group, analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued a dividend of $0.6675 per share. The ex-dividend date was Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.95%. Dominion Energy's dividend payout ratio is presently 93.68%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays raised their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Scotiabank boosted their target price on Dominion Energy from $58.00 to $61.00 and gave the company a "sector perform" rating in a research note on Thursday, December 12th. Jefferies Financial Group started coverage on Dominion Energy in a research note on Friday, September 20th. They set a "hold" rating and a $58.00 price target for the company. Morgan Stanley assumed coverage on Dominion Energy in a research note on Monday, December 2nd. They issued an "equal weight" rating and a $61.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $61.00 target price on shares of Dominion Energy in a research report on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.58.

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.