Moors & Cabot Inc. Boosts Holdings in Dominion Energy Inc. (NYSE:D)

Moors & Cabot Inc. lifted its stake in Dominion Energy Inc. (NYSE:D) by 4.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 29,206 shares of the utilities provider’s stock after acquiring an additional 1,153 shares during the period. Moors & Cabot Inc.’s holdings in Dominion Energy were worth $1,638,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Dominion Energy by 450.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 378 shares during the period. Orion Capital Management LLC acquired a new stake in Dominion Energy during the 4th quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in Dominion Energy during the 4th quarter worth $27,000. VSM Wealth Advisory LLC acquired a new stake in Dominion Energy during the 1st quarter worth $28,000. Finally, Navigoe LLC acquired a new stake in Dominion Energy during the 4th quarter worth $29,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Stock Up 3.3%

D stock opened at $60.38 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.73. Dominion Energy Inc. has a one year low of $48.07 and a one year high of $61.97. The company has a fifty day moving average of $56.69 and a 200-day moving average of $55.37. The stock has a market capitalization of $51.49 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 1.27 and a beta of 0.57.

Dominion Energy (NYSE:D) last issued its earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Investors of record on Friday, September 5th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.67 annualized dividend and a yield of 4.4%. Dominion Energy’s payout ratio is currently 100.00%.

Analysts Set New Price Targets

D has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $53.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 15th. Morgan Stanley reduced their target price on shares of Dominion Energy from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.88.

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.