Cahaba Wealth Management Inc. Takes $200,000 Position in Dominion Energy, Inc. (NYSE:D)

Cahaba Wealth Management Inc. acquired a new position in Dominion Energy, Inc. (NYSE:D) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,086 shares of the utilities provider’s stock, valued at approximately $200,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of 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 during the period. Capital Research Global Investors lifted its holdings in Dominion Energy by 136.5% in the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock valued at $844,630,000 after acquiring an additional 10,370,768 shares during the period. Norges Bank purchased a new position in Dominion Energy in the fourth quarter worth about $329,792,000. ClearBridge Investments Ltd bought a new stake in shares of Dominion Energy during the 4th quarter valued at about $214,220,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Dominion Energy by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock valued at $1,204,904,000 after purchasing an additional 2,801,687 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on D. Scotiabank boosted their target price 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. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. lifted their target price on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets upped their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Finally, Bank of America raised 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 report on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.00.

Dominion Energy Stock Down 0.3 %

Shares of D opened at $57.14 on Friday. The business’s 50 day moving average is $53.60 and its 200 day moving average is $51.18. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 12-month low of $39.18 and a 12-month high of $58.13. The company has a market capitalization of $47.94 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.54 and a beta of 0.60.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.67%. Dominion Energy’s payout ratio is 137.63%.

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.