Probity Advisors Inc. Buys Shares of 3,774 Dominion Energy, Inc. (NYSE:D)

Probity Advisors Inc. purchased a new position in shares of Dominion Energy, Inc. (NYSE:D) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,774 shares of the utilities provider’s stock, valued at approximately $218,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Dominion Energy by 16.0% during the 1st quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after acquiring an additional 12,178,713 shares during the last quarter. Capital Research Global Investors lifted its position in Dominion Energy by 20.1% during the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock worth $1,061,740,000 after acquiring an additional 3,613,614 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Dominion Energy by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after acquiring an additional 2,801,687 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Dominion Energy during the 2nd quarter worth $67,854,000. Finally, Bank of New York Mellon Corp lifted its position in Dominion Energy by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock worth $734,007,000 after acquiring an additional 940,402 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Stock Performance

NYSE D opened at $59.74 on Friday. The stock has a market cap of $50.04 billion, a P/E ratio of 30.79, a PEG ratio of 1.52 and a beta of 0.60. The company’s 50-day simple moving average is $56.99 and its 200 day simple moving average is $53.22. Dominion Energy, Inc. has a twelve month low of $39.18 and a twelve month high of $60.73. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, research analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.67 annualized dividend and a yield of 4.47%. Dominion Energy’s dividend payout ratio is 137.63%.

Analysts Set New Price Targets

A number of research analysts have weighed in on D shares. Barclays boosted their target price on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday. Jefferies Financial Group started coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. Scotiabank boosted their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets upped their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.40.

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.