Kovitz Investment Group Partners LLC Invests $980,000 in Dominion Energy, Inc. (NYSE:D)

Kovitz Investment Group Partners LLC purchased a new stake in shares of Dominion Energy, Inc. (NYSE:D) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,953 shares of the utilities provider’s stock, valued at approximately $980,000.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Dominion Energy by 3.2% during the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after purchasing an additional 1,365,555 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Dominion Energy by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 29,635,621 shares of the utilities provider’s stock valued at $1,452,145,000 after acquiring an additional 477,181 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Dominion Energy by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock valued at $734,007,000 after acquiring an additional 940,402 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Dominion Energy by 63.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock worth $487,567,000 after acquiring an additional 3,278,175 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Dominion Energy by 0.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 5,780,145 shares of the utilities provider’s stock worth $283,227,000 after purchasing an additional 27,984 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Down 1.3 %

D stock opened at $54.29 on Thursday. Dominion Energy, Inc. has a 12 month low of $43.53 and a 12 month 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. The company has a market cap of $45.60 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.59. The company has a fifty day moving average price of $58.02 and a 200 day moving average price of $55.20.

Dominion Energy (NYSE:D) last released its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s payout ratio is 93.68%.

Analysts Set New Price Targets

D has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. Barclays increased their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group restated a “neutral” rating and set a $61.00 target price on shares of Dominion Energy in a report on Friday, November 8th. Morgan Stanley assumed coverage on Dominion Energy in a report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price target for the company. Finally, Scotiabank upped their target price on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.