Morse Asset Management Inc Makes New Investment in Dominion Energy, Inc. (NYSE:D)

Morse Asset Management Inc acquired a new position in Dominion Energy, Inc. (NYSE:D - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,704 shares of the utilities provider's stock, valued at approximately $734,000.

Other hedge funds have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC increased its position in Dominion Energy by 63.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider's stock valued at $487,567,000 after acquiring an additional 3,278,175 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Dominion Energy by 10,324.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider's stock worth $130,074,000 after purchasing an additional 2,229,220 shares during the period. International Assets Investment Management LLC lifted its holdings in Dominion Energy by 7,438.3% during the third quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider's stock worth $85,734,000 after buying an additional 1,463,858 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Dominion Energy during the 2nd quarter worth $67,854,000. Finally, State Street Corp boosted its position in Dominion Energy by 3.2% during the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider's stock valued at $2,559,972,000 after purchasing an additional 1,365,555 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Dominion Energy Price Performance

Shares of Dominion Energy stock traded down $0.58 on Thursday, reaching $53.69. The company's stock had a trading volume of 3,877,153 shares, compared to its average volume of 4,462,228. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $45.10 billion, a P/E ratio of 19.01, a PEG ratio of 1.49 and a beta of 0.59. The stock has a 50-day moving average price of $57.94 and a 200-day moving average price of $55.20. Dominion Energy, Inc. has a 52-week low of $43.53 and a 52-week high of $61.97.

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

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.97%. The ex-dividend date is Friday, November 29th. Dominion Energy's dividend payout ratio 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.