DAVENPORT & Co LLC Has $20.77 Million Holdings in Dominion Energy, Inc. (NYSE:D)

DAVENPORT & Co LLC grew its stake in Dominion Energy, Inc. (NYSE:D) by 8.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,328 shares of the utilities provider’s stock after purchasing an additional 34,570 shares during the quarter. DAVENPORT & Co LLC’s holdings in Dominion Energy were worth $20,772,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Richardson Financial Services Inc. grew its position in Dominion Energy by 8.0% during the first quarter. Richardson Financial Services Inc. now owns 3,666 shares of the utilities provider’s stock worth $180,000 after buying an additional 271 shares in the last quarter. Carson Advisory Inc. lifted its stake in shares of Dominion Energy by 9.7% in the 1st quarter. Carson Advisory Inc. now owns 64,162 shares of the utilities provider’s stock valued at $3,156,000 after acquiring an additional 5,674 shares during the last quarter. General American Investors Co. Inc. bought a new stake in shares of Dominion Energy in the 1st quarter valued at about $12,789,000. Commerce Bank raised its position in Dominion Energy by 4.8% during the 1st quarter. Commerce Bank now owns 143,094 shares of the utilities provider’s stock valued at $7,039,000 after purchasing an additional 6,595 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Dominion Energy by 11.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,957 shares of the utilities provider’s stock valued at $1,523,000 after purchasing an additional 3,304 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on D. Evercore ISI upped their target price on Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Scotiabank cut their price target on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and increased their target price for the company from $43.00 to $54.00 in a research note on Friday, May 10th. Finally, Mizuho increased their target price on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Dominion Energy has an average rating of “Hold” and a consensus price target of $51.64.

Dominion Energy Stock Performance

Dominion Energy stock traded up $1.88 during trading on Thursday, reaching $51.63. The company had a trading volume of 3,763,416 shares, compared to its average volume of 4,788,509. Dominion Energy, Inc. has a 52 week low of $39.18 and a 52 week high of $54.74. The firm’s 50-day simple moving average is $51.34 and its 200 day simple moving average is $48.80. The firm has a market capitalization of $43.24 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.58. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 1.37.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Sell-side analysts forecast 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 Thursday, June 20th. Shareholders of record on Friday, May 31st were issued a dividend of $0.6675 per share. The ex-dividend date was Friday, May 31st. This represents a $2.67 dividend on an annualized basis and a yield of 5.17%. Dominion Energy’s dividend payout ratio is presently 137.63%.

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.