Retirement Systems of Alabama Grows Position in Dominion Energy Inc. (D)
Retirement Systems of Alabama lifted its stake in Dominion Energy Inc. (NYSE:D) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 304,968 shares of the utilities provider’s stock after buying an additional 1,349 shares during the period. Retirement Systems of Alabama’s holdings in Dominion Energy were worth $23,370,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in D. Tradewinds Capital Management LLC lifted its stake in Dominion Energy by 1.0% during the first quarter. Tradewinds Capital Management LLC now owns 1,306 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 13 shares during the period. Enterprise Financial Services Corp lifted its stake in Dominion Energy by 62.6% during the first quarter. Enterprise Financial Services Corp now owns 1,376 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 530 shares during the period. Clean Yield Group bought a new position in Dominion Energy during the first quarter worth about $117,000. Bollard Group LLC lifted its stake in Dominion Energy by 0.8% during the second quarter. Bollard Group LLC now owns 1,528 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 12 shares during the period. Finally, Advantage Investment Management LLC lifted its stake in Dominion Energy by 247.7% during the first quarter. Advantage Investment Management LLC now owns 1,582 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 1,127 shares during the period. Institutional investors and hedge funds own 64.49% of the company’s stock.
Shares of Dominion Energy Inc. (D) opened at 78.33 on Tuesday. The stock’s 50 day moving average is $77.98 and its 200 day moving average is $77.78. The firm has a market cap of $50.33 billion, a price-to-earnings ratio of 22.67 and a beta of 0.29. Dominion Energy Inc. has a 12-month low of $69.51 and a 12-month high of $81.65.
Dominion Energy (NYSE:D) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. Dominion Energy had a net margin of 17.48% and a return on equity of 14.04%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts expect that Dominion Energy Inc. will post $3.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Wednesday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is presently 87.28%.
A number of research analysts have commented on D shares. Zacks Investment Research upgraded shares of Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, July 11th. BidaskClub cut shares of Dominion Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Citigroup Inc. cut their price target on shares of Dominion Energy from $78.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, July 26th. Morgan Stanley cut their price target on shares of Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating for the company in a research note on Monday, May 8th. Finally, KeyCorp restated a “hold” rating on shares of Dominion Energy in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $80.57.
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Dominion Energy Profile
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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