Korea Investment CORP increased its stake in shares of Dominion Energy, Inc. (NYSE:D – Get Rating) by 26.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 559,710 shares of the utilities provider’s stock after purchasing an additional 117,546 shares during the period. Korea Investment CORP owned approximately 0.07% of Dominion Energy worth $44,670,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blume Capital Management Inc. bought a new stake in Dominion Energy during the first quarter worth about $27,000. Curi Wealth Management LLC grew its position in Dominion Energy by 1,755.0% during the second quarter. Curi Wealth Management LLC now owns 371 shares of the utilities provider’s stock worth $30,000 after buying an additional 351 shares in the last quarter. Syverson Strege & Co acquired a new stake in Dominion Energy during the second quarter worth approximately $33,000. Elequin Capital LP acquired a new stake in Dominion Energy during the first quarter worth approximately $34,000. Finally, Covestor Ltd grew its position in Dominion Energy by 49.8% during the first quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock worth $34,000 after buying an additional 131 shares in the last quarter. 69.75% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently commented on D. Seaport Res Ptn reiterated a “neutral” rating on shares of Dominion Energy in a research note on Thursday, October 6th. BMO Capital Markets increased their price target on Dominion Energy from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday, November 7th. Credit Suisse Group cut Dominion Energy from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $76.00 to $69.00 in a research note on Monday, November 7th. StockNews.com assumed coverage on Dominion Energy in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group raised Dominion Energy from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $72.00 to $69.00 in a research report on Sunday, November 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dominion Energy has a consensus rating of “Hold” and an average price target of $75.08.
Dominion Energy Stock Performance
Dominion Energy (NYSE:D – Get Rating) last issued its earnings results on Friday, November 4th. The utilities provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.08 by $0.03. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $3.98 billion. Dominion Energy had a return on equity of 12.84% and a net margin of 14.73%. The firm’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period last year, the business posted $1.11 EPS. As a group, analysts anticipate that Dominion Energy, Inc. will post 4.11 EPS for the current year.
Dominion Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Friday, December 2nd will be paid a $0.6675 dividend. The ex-dividend date is Thursday, December 1st. This represents a $2.67 annualized dividend and a dividend yield of 4.37%. Dominion Energy’s dividend payout ratio is presently 95.70%.
About Dominion Energy
Dominion Energy, Inc produces and distributes energy in the United States. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
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