Miracle Mile Advisors LLC Acquires 358 Shares of Dominion Energy, Inc. (NYSE:D)

Miracle Mile Advisors LLC increased its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,665 shares of the utilities provider’s stock after acquiring an additional 358 shares during the period. Miracle Mile Advisors LLC’s holdings in Dominion Energy were worth $869,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in Dominion Energy by 196.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock worth $18,451,000 after buying an additional 259,978 shares during the period. Morgan Stanley raised its stake in Dominion Energy by 12.8% during the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after buying an additional 803,341 shares during the period. International Assets Investment Management LLC raised its stake in Dominion Energy by 1,797.9% during the 4th quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock worth $7,798,000 after buying an additional 157,175 shares during the period. Diversified Trust Co raised its stake in Dominion Energy by 97.3% during the 4th quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock worth $674,000 after buying an additional 7,071 shares during the period. Finally, Sapient Capital LLC acquired a new stake in Dominion Energy during the 4th quarter worth $263,000. 73.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

D has been the subject of several analyst reports. Guggenheim decreased their price objective on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. Scotiabank decreased their price objective on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Barclays decreased their price objective on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 15th. BMO Capital Markets raised their price objective on Dominion Energy from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, May 6th. Finally, Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $43.00 to $54.00 in a report on Friday, May 10th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.73.

Dominion Energy Price Performance

Shares of NYSE D traded down $0.99 during midday trading on Monday, reaching $48.01. The company’s stock had a trading volume of 3,412,302 shares, compared to its average volume of 4,903,141. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05. Dominion Energy, Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $54.74. The business’s 50 day moving average price is $51.64 and its two-hundred day moving average price is $48.73. The company has a market cap of $40.21 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.31 and a beta of 0.59.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. On average, analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were paid a dividend of $0.6675 per share. The ex-dividend date was Friday, May 31st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.56%. Dominion Energy’s payout ratio is presently 137.63%.

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.