Royal London Asset Management Ltd. Grows Stake in Dominion Energy, Inc. (NYSE:D)

Royal London Asset Management Ltd. raised its stake in Dominion Energy, Inc. (NYSE:D) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 251,604 shares of the utilities provider’s stock after acquiring an additional 43,541 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Dominion Energy were worth $13,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. lifted its stake in shares of Dominion Energy by 175.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Dominion Energy during the 4th quarter valued at approximately $26,000. Roble Belko & Company Inc purchased a new stake in shares of Dominion Energy during the 4th quarter valued at approximately $27,000. Fairway Wealth LLC purchased a new stake in shares of Dominion Energy during the 4th quarter valued at approximately $27,000. Finally, CBIZ Investment Advisory Services LLC lifted its stake in shares of Dominion Energy by 100.4% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 519 shares of the utilities provider’s stock valued at $28,000 after buying an additional 260 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of NYSE:D opened at $54.51 on Friday. The company’s fifty day moving average price is $55.19 and its 200-day moving average price is $56.30. The firm has a market capitalization of $46.44 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.22 and a beta of 0.58. Dominion Energy, Inc. has a one year low of $46.56 and a one year high of $61.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. On average, equities research analysts anticipate that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Friday, February 28th. Dominion Energy’s dividend payout ratio is currently 98.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on D shares. UBS Group upped their price target on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley increased their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday. Scotiabank increased their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.58.

Dominion Energy Company 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.