Royal London Asset Management Ltd. Boosts Holdings in Dominion Energy, Inc. (NYSE:D)

Royal London Asset Management Ltd. boosted its holdings in Dominion Energy, Inc. (NYSE:D - Free Report) by 20.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 251,604 shares of the utilities provider's stock after purchasing an additional 43,541 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Dominion Energy were worth $13,551,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in D. Generali Investments Management Co LLC acquired a new stake in shares of Dominion Energy during the fourth quarter worth about $2,412,000. Xponance Inc. increased its position in Dominion Energy by 2.7% during the fourth quarter. Xponance Inc. now owns 119,411 shares of the utilities provider's stock worth $6,431,000 after buying an additional 3,182 shares during the period. Generali Asset Management SPA SGR acquired a new position in Dominion Energy during the fourth quarter worth approximately $3,633,000. Horizon Investments LLC lifted its stake in Dominion Energy by 1.9% in the fourth quarter. Horizon Investments LLC now owns 15,827 shares of the utilities provider's stock valued at $852,000 after buying an additional 294 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Dominion Energy by 7.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 53,109 shares of the utilities provider's stock worth $2,898,000 after acquiring an additional 3,628 shares during the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on D. Morgan Stanley upped their price target on shares of Dominion Energy from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Scotiabank upped their price target on Dominion Energy from $58.00 to $61.00 and gave the stock a "sector perform" rating in a research note on Thursday, December 12th. UBS Group lifted their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. boosted their target price on Dominion Energy from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $57.58.

Remove Ads

Dominion Energy Price Performance

Shares of NYSE:D traded up $0.99 during midday trading on Wednesday, hitting $53.84. 3,617,850 shares of the stock were exchanged, compared to its average volume of 4,053,991. The company has a 50 day moving average price of $55.19 and a 200-day moving average price of $56.24. The stock has a market cap of $45.87 billion, a P/E ratio of 19.94, a PEG ratio of 1.22 and a beta of 0.59. Dominion Energy, Inc. has a twelve month low of $46.56 and a twelve month high of $61.97. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D - Get Free Report) last announced its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. On average, research analysts forecast that Dominion Energy, Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were issued a dividend of $0.6675 per share. The ex-dividend date was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.96%. Dominion Energy's dividend payout ratio (DPR) is presently 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.