Principal Financial Group Inc. Raises Stake in Dominion Energy, Inc. (NYSE:D)

Principal Financial Group Inc. lifted its stake in shares of Dominion Energy, Inc. (NYSE:D) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 951,763 shares of the utilities provider’s stock after purchasing an additional 41,746 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Dominion Energy worth $55,002,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. B. Riley Wealth Advisors Inc. grew its position in shares of Dominion Energy by 5.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 39,848 shares of the utilities provider’s stock valued at $2,308,000 after purchasing an additional 2,177 shares during the last quarter. Birmingham Capital Management Co. Inc. AL purchased a new stake in Dominion Energy in the 3rd quarter valued at approximately $205,000. Inspire Trust Co. N.A. grew its holdings in Dominion Energy by 10.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 20,470 shares of the utilities provider’s stock valued at $1,183,000 after buying an additional 2,000 shares during the last quarter. Old North State Trust LLC acquired a new stake in Dominion Energy during the 3rd quarter valued at $236,000. Finally, Franklin Resources Inc. raised its holdings in shares of Dominion Energy by 4.8% in the third quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock worth $496,358,000 after acquiring an additional 398,012 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Performance

Dominion Energy stock opened at $53.66 on Monday. The company has a market cap of $45.07 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59. Dominion Energy, Inc. has a 12 month low of $43.53 and a 12 month high of $61.97. 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 stock’s 50-day moving average is $57.46 and its 200-day moving average is $55.21.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating 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 firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the company posted $0.77 earnings per share. Dominion Energy’s revenue was up 3.4% compared to the same quarter last year. Equities analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.98%. The ex-dividend date was Friday, November 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

Wall Street Analysts Forecast Growth

D has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price objective on the stock. Scotiabank raised their price target on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research report on Friday, November 8th. Barclays upped their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on shares of Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 target price for the company. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.58.

Dominion Energy Company 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.