Principal Financial Group Inc. Buys 41,746 Shares of Dominion Energy, Inc. (NYSE:D)

Principal Financial Group Inc. boosted its holdings in Dominion Energy, Inc. (NYSE:D - Free Report) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 951,763 shares of the utilities provider's stock after buying an additional 41,746 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Dominion Energy worth $55,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Dominion Energy during the second quarter valued at about $27,000. LRI Investments LLC acquired a new position in shares of Dominion Energy in the 1st quarter valued at $30,000. Triad Wealth Partners LLC purchased a new stake in shares of Dominion Energy in the 2nd quarter valued at $33,000. Opal Wealth Advisors LLC purchased a new stake in Dominion Energy during the 2nd quarter worth about $35,000. Finally, Kimelman & Baird LLC purchased a new stake in Dominion Energy during the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Stock Performance

Shares of D traded up $0.40 during midday trading on Monday, reaching $58.19. 2,883,558 shares of the stock were exchanged, compared to its average volume of 4,418,520. The company has a market capitalization of $48.88 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.54 and a beta of 0.59. Dominion Energy, Inc. has a twelve month low of $43.53 and a twelve month high of $61.97. The business's 50-day moving average price is $58.01 and its 200 day moving average price is $54.40. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.78.

Dominion Energy (NYSE:D - Get Free Report) last released its quarterly earnings data 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 return on equity of 8.35% and a net margin of 16.95%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the prior year, the firm posted $0.77 EPS. The business's revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $0.6675 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.59%. Dominion Energy's dividend payout ratio (DPR) is presently 93.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on D. Barclays increased their target price on Dominion Energy from $54.00 to $58.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on Dominion Energy in a report on Friday, September 20th. They set a "hold" rating and a $58.00 target price on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $61.00 price objective on shares of Dominion Energy in a report on Friday. BMO Capital Markets boosted their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a "market perform" rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the company a "neutral" rating in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $55.91.

About Dominion Energy

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.