Proficio Capital Partners LLC Takes Position in Dominion Energy, Inc. (NYSE:D)

Proficio Capital Partners LLC purchased a new position in Dominion Energy, Inc. (NYSE:D) in the 4th quarter, HoldingsChannel reports. The firm purchased 157,810 shares of the utilities provider’s stock, valued at approximately $8,500,000.

Several other large investors also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC raised its position in Dominion Energy by 63.5% in the 3rd 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 period. Point72 Asset Management L.P. raised its holdings in shares of Dominion Energy by 10,324.8% in the third quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider’s stock worth $130,074,000 after buying an additional 2,229,220 shares during the period. State Street Corp raised its holdings in shares of Dominion Energy by 3.2% in the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after buying an additional 1,365,555 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after acquiring an additional 1,222,688 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Dominion Energy by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock valued at $804,606,000 after acquiring an additional 1,068,996 shares during the period. 73.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley assumed 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. Scotiabank lifted their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.58.

Dominion Energy Price Performance

NYSE D opened at $56.60 on Monday. The company has a market cap of $47.54 billion, a PE ratio of 20.96, a P/E/G ratio of 1.22 and a beta of 0.61. The firm’s 50 day moving average price is $54.94 and its 200-day moving average price is $56.45. 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 52-week low of $44.17 and a 52-week high of $61.97.

Dominion Energy (NYSE:D) last announced its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. Sell-side analysts forecast that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a yield of 4.72%. Dominion Energy’s dividend payout ratio is presently 98.89%.

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.