Clough Capital Partners L P acquired a new stake in Dominion Energy Inc. (NYSE:D) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 56,700 shares of the utilities provider’s stock, valued at approximately $4,398,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Palisade Capital Management LLC NJ increased its position in Dominion Energy by 1.9% in the first quarter. Palisade Capital Management LLC NJ now owns 6,805 shares of the utilities provider’s stock valued at $528,000 after buying an additional 130 shares during the period. City Holding Co. increased its position in shares of Dominion Energy by 4.4% in the first quarter. City Holding Co. now owns 22,744 shares of the utilities provider’s stock valued at $1,764,000 after buying an additional 950 shares during the last quarter. Bank of Montreal Can increased its position in shares of Dominion Energy by 6.8% in the first quarter. Bank of Montreal Can now owns 432,917 shares of the utilities provider’s stock valued at $33,581,000 after buying an additional 27,629 shares during the last quarter. Coastline Trust Co increased its position in shares of Dominion Energy by 4.0% in the first quarter. Coastline Trust Co now owns 12,319 shares of the utilities provider’s stock valued at $956,000 after buying an additional 475 shares during the last quarter. Finally, BB&T Corp increased its position in shares of Dominion Energy by 3.5% in the first quarter. BB&T Corp now owns 122,663 shares of the utilities provider’s stock valued at $9,516,000 after buying an additional 4,101 shares during the last quarter. 64.83% of the stock is owned by institutional investors.
Dominion Energy Inc. (NYSE D) traded up 0.73% during mid-day trading on Friday, hitting $78.69. 2,303,023 shares of the stock were exchanged. The stock has a market capitalization of $50.57 billion, a PE ratio of 22.78 and a beta of 0.28. The company has a 50-day moving average of $77.11 and a 200-day moving average of $77.32. Dominion Energy Inc. has a 52 week low of $69.51 and a 52 week high of $81.65.
Dominion Energy (NYSE:D) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. Dominion Energy had a net margin of 17.48% and a return on equity of 14.04%. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. Dominion Energy’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts predict that Dominion Energy Inc. will post $3.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, September 1st will be given a dividend of $0.755 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.02 annualized dividend and a yield of 3.84%. Dominion Energy’s dividend payout ratio (DPR) is currently 87.28%.
D has been the subject of several analyst reports. Zacks Investment Research raised shares of Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, July 11th. BidaskClub downgraded shares of Dominion Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Barclays PLC reissued an “overweight” rating and issued a $89.00 price target (up from $80.00) on shares of Dominion Energy in a report on Sunday, April 23rd. Citigroup Inc. dropped their price objective on shares of Dominion Energy from $78.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, July 26th. Finally, Morgan Stanley dropped their price objective on shares of Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating for the company in a report on Monday, May 8th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Dominion Energy currently has a consensus rating of “Hold” and an average target price of $80.57.
About Dominion Energy
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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