JPMorgan Chase & Co. Raises Position in Dominion Energy, Inc. (NYSE:D)

JPMorgan Chase & Co. lifted its stake in shares of Dominion Energy, Inc. (NYSE:D) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,620,242 shares of the utilities provider’s stock after acquiring an additional 1,222,688 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.41% of Dominion Energy worth $1,653,964,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in shares of Dominion Energy by 3.2% during the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after acquiring an additional 1,365,555 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Dominion Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider’s stock worth $1,452,145,000 after buying an additional 477,181 shares in the last quarter. Geode Capital Management LLC boosted its stake in Dominion Energy by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock valued at $1,032,941,000 after buying an additional 367,193 shares during the last quarter. Franklin Resources Inc. grew its holdings in Dominion Energy by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock valued at $496,358,000 after buying an additional 398,012 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in Dominion Energy by 63.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock worth $487,567,000 after purchasing an additional 3,278,175 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Jefferies Financial Group started coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price objective on the stock. Barclays boosted their target price on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Morgan Stanley began coverage on Dominion Energy in a research note on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research note on Friday, November 8th. Finally, Scotiabank lifted their price target on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Stock Down 0.1 %

NYSE:D opened at $53.71 on Friday. The company’s 50-day simple moving average is $57.06 and its 200-day simple moving average is $55.23. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. Dominion Energy, Inc. has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The stock has a market capitalization of $45.12 billion, a P/E ratio of 18.85, a P/E/G ratio of 1.44 and a beta of 0.59.

Dominion Energy (NYSE:D) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. Dominion Energy’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. On average, equities analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.97%. The ex-dividend date was Friday, November 29th. 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.