Harbour Investments Inc. Reduces Holdings in Dominion Energy, Inc. (NYSE:D)

Harbour Investments Inc. cut its position in Dominion Energy, Inc. (NYSE:D) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,801 shares of the utilities provider’s stock after selling 179 shares during the quarter. Harbour Investments Inc.’s holdings in Dominion Energy were worth $740,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in D. Empowered Funds LLC boosted its holdings in shares of Dominion Energy by 27.0% in the first quarter. Empowered Funds LLC now owns 11,313 shares of the utilities provider’s stock valued at $556,000 after acquiring an additional 2,406 shares during the period. QRG Capital Management Inc. acquired a new stake in Dominion Energy during the 1st quarter worth $272,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Dominion Energy by 15.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 101,086 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 13,336 shares during the period. Kingsview Wealth Management LLC grew its position in Dominion Energy by 8.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 27,023 shares of the utilities provider’s stock worth $1,329,000 after purchasing an additional 2,058 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Dominion Energy by 51.2% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 12,963 shares of the utilities provider’s stock valued at $638,000 after purchasing an additional 4,390 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on D shares. Barclays increased their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Scotiabank lifted their target price on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group assumed coverage on Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, BMO Capital Markets boosted their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.91.

Dominion Energy Stock Performance

NYSE:D opened at $57.63 on Friday. The firm’s fifty day simple moving average is $58.02 and its 200-day simple moving average is $54.53. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The stock has a market cap of $48.41 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.59. Dominion Energy, Inc. has a fifty-two week low of $43.53 and a fifty-two week high of $61.97.

Dominion Energy (NYSE:D) last issued its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts expect that Dominion Energy, Inc. will post 2.76 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, December 20th. Investors of record on Friday, November 29th will be issued a dividend of $0.6675 per share. The ex-dividend date is Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.63%. Dominion Energy’s dividend payout ratio is presently 93.68%.

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.