798,095 Shares in Dominion Energy, Inc. (NYSE:D) Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. bought a new position in shares of Dominion Energy, Inc. (NYSE:D) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 798,095 shares of the utilities provider’s stock, valued at approximately $39,258,000.

Other hedge funds have also added to or reduced their stakes in the company. Criterion Capital Advisors LLC acquired a new position in shares of Dominion Energy in the 4th quarter worth approximately $29,000. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Dominion Energy in the 4th quarter worth approximately $30,000. Rise Advisors LLC acquired a new position in shares of Dominion Energy in the 1st quarter worth approximately $30,000. Venturi Wealth Management LLC increased its stake in shares of Dominion Energy by 84.5% in the 4th quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 310 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in shares of Dominion Energy by 20,100.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 808 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 804 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

Shares of NYSE:D traded up $0.40 during midday trading on Friday, reaching $52.70. The company had a trading volume of 2,994,129 shares, compared to its average volume of 3,121,377. The company’s 50 day moving average price is $51.15 and its 200 day moving average price is $49.13. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 1.37. The stock has a market cap of $44.14 billion, a P/E ratio of 27.17, a P/E/G ratio of 1.40 and a beta of 0.58. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $54.30.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Friday, May 31st. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Evercore ISI lifted their price objective on shares of Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Barclays lowered their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $43.00 to $54.00 in a research note on Friday, May 10th. Finally, BMO Capital Markets decreased their price target on shares of Dominion Energy from $52.00 to $51.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.64.

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.