Dominion Energy, Inc. (NYSE:D) Holdings Raised by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in shares of Dominion Energy, Inc. (NYSE:D) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,867 shares of the utilities provider’s stock after acquiring an additional 4,800 shares during the period. State of Michigan Retirement System’s holdings in Dominion Energy were worth $12,145,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its position in Dominion Energy by 1,797.9% during the fourth quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock valued at $7,798,000 after acquiring an additional 157,175 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Dominion Energy by 7.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 38,248 shares of the utilities provider’s stock valued at $1,798,000 after purchasing an additional 2,733 shares in the last quarter. Syon Capital LLC acquired a new stake in shares of Dominion Energy in the 4th quarter valued at $411,000. Kovack Advisors Inc. boosted its holdings in Dominion Energy by 5.7% in the fourth quarter. Kovack Advisors Inc. now owns 8,565 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 463 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Dominion Energy in the fourth quarter worth about $72,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Price Performance

Shares of NYSE:D opened at $56.53 on Tuesday. The firm has a market capitalization of $47.35 billion, a PE ratio of 29.13, a PEG ratio of 1.51 and a beta of 0.58. 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 1-year low of $39.18 and a 1-year high of $57.60. The business’s 50 day moving average is $52.32 and its 200-day moving average is $50.55.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be paid a $0.6675 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.67 annualized dividend and a dividend yield of 4.72%. Dominion Energy’s dividend payout ratio is currently 137.63%.

Analyst Ratings Changes

D has been the topic of a number of recent analyst reports. Scotiabank raised their price objective 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. Wells Fargo & Company boosted their price objective on shares of Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Mizuho lifted their target price on shares of Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.00.

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.