Confluence Wealth Services Inc. Boosts Stake in Dominion Energy, Inc. (NYSE:D)

Confluence Wealth Services Inc. lifted its position in Dominion Energy, Inc. (NYSE:D) by 27.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,550 shares of the utilities provider’s stock after acquiring an additional 1,425 shares during the period. Confluence Wealth Services Inc.’s holdings in Dominion Energy were worth $378,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Dominion Energy by 16.0% during the 1st quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after buying an additional 12,178,713 shares in the last quarter. Capital Research Global Investors raised its position in shares of Dominion Energy by 20.1% in the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock worth $1,061,740,000 after purchasing an additional 3,613,614 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Dominion Energy by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after purchasing an additional 2,801,687 shares in the last quarter. International Assets Investment Management LLC increased its stake in Dominion Energy by 7,438.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock valued at $85,734,000 after purchasing an additional 1,463,858 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Dominion Energy in the second quarter worth about $67,854,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Scotiabank increased their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Barclays raised their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Finally, BMO Capital Markets lifted their price objective on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.40.

Dominion Energy Stock Down 2.3 %

NYSE D opened at $57.62 on Tuesday. Dominion Energy, Inc. has a one year low of $43.53 and a one year high of $61.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The business has a fifty day moving average price of $57.89 and a 200 day moving average price of $54.21. The company has a market cap of $48.34 billion, a P/E ratio of 30.33, a P/E/G ratio of 1.58 and a beta of 0.59.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. 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 7.69% and a net margin of 11.63%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. Research analysts anticipate that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.63%. Dominion Energy’s dividend payout ratio is presently 140.53%.

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.