Morse Asset Management Inc Makes New Investment in Dominion Energy, Inc. (NYSE:D)

Morse Asset Management Inc acquired a new stake in Dominion Energy, Inc. (NYSE:D) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 12,904 shares of the utilities provider’s stock, valued at approximately $746,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in D. Sanctuary Wealth Management L.L.C. acquired a new position in Dominion Energy during the 3rd quarter worth approximately $28,000. Family Firm Inc. bought a new position in Dominion Energy during the second quarter valued at about $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Dominion Energy during the 3rd quarter worth approximately $32,000. Larson Financial Group LLC raised its stake in Dominion Energy by 282.4% in the 3rd quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 449 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in shares of Dominion Energy during the 3rd quarter valued at approximately $36,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Trading Down 1.2 %

NYSE:D opened at $56.68 on Wednesday. Dominion Energy, Inc. has a one year low of $43.53 and a one year high of $61.97. The company’s 50-day simple moving average is $58.18 and its 200 day simple moving average is $55.11. The firm has a market capitalization of $47.61 billion, a P/E ratio of 19.89, a PEG ratio of 1.53 and a beta of 0.59. 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 Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the company earned $0.77 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, November 29th. Dominion Energy’s payout ratio is currently 93.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on D shares. JPMorgan Chase & Co. increased their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Barclays lifted their price target on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price objective on the stock. Scotiabank raised their price target on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley initiated coverage on Dominion Energy in a research report on Monday. They set an “equal weight” rating and a $61.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.33.

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.