Baystate Wealth Management LLC lifted its position in Dominion Energy, Inc. (NYSE:D – Get Rating) by 91.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 619 shares of the utilities provider’s stock after purchasing an additional 296 shares during the quarter. Baystate Wealth Management LLC’s holdings in Dominion Energy were worth $38,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sei Investments Co. grew its stake in Dominion Energy by 7.7% in the 1st quarter. Sei Investments Co. now owns 168,723 shares of the utilities provider’s stock worth $14,325,000 after buying an additional 12,002 shares in the last quarter. Prudential PLC purchased a new position in Dominion Energy in the first quarter worth $1,528,000. Sequoia Financial Advisors LLC increased its stake in Dominion Energy by 30.0% in the first quarter. Sequoia Financial Advisors LLC now owns 7,195 shares of the utilities provider’s stock valued at $611,000 after acquiring an additional 1,661 shares during the last quarter. Covestor Ltd raised its position in Dominion Energy by 49.8% during the first quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 131 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in Dominion Energy during the first quarter worth about $419,000. Hedge funds and other institutional investors own 70.30% of the company’s stock.
Analyst Ratings Changes
D has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Dominion Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. Mizuho cut their price target on shares of Dominion Energy from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, February 27th. Morgan Stanley reduced their price objective on Dominion Energy from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Credit Suisse Group reduced their price objective on Dominion Energy from $67.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Dominion Energy from $76.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.08.
Dominion Energy Stock Performance
Dominion Energy (NYSE:D – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Dominion Energy had a net margin of 5.79% and a return on equity of 13.35%. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. Dominion Energy’s revenue was up 26.6% on a year-over-year basis. Sell-side analysts expect that Dominion Energy, Inc. will post 3.96 EPS for the current year.
Dominion Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 20th. Investors of record on Friday, March 3rd were paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Thursday, March 2nd. Dominion Energy’s payout ratio is currently 244.95%.
Dominion Energy Profile
Dominion Energy, Inc engages in the production and distribution of energy. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets, and Corporate and Other. The Corporate and Other segment focuses on corporate, service company, non-controlling interest in Dominion privatization, and non-regulated retail energy marketing operations.
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