Dominion Energy, Inc. (NYSE:D) Shares Bought by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lifted its position in shares of Dominion Energy, Inc. (NYSE:D) by 3.7% during the fourth quarter, HoldingsChannel reports. The fund owned 16,506 shares of the utilities provider’s stock after acquiring an additional 594 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Dominion Energy were worth $889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. acquired a new stake in Dominion Energy in the third quarter valued at $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Dominion Energy during the 3rd quarter worth $32,000. Dunhill Financial LLC increased its holdings in shares of Dominion Energy by 601.2% in the 3rd quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 487 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Dominion Energy by 282.4% in the third quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 449 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in Dominion Energy during the second quarter worth about $36,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on D shares. Scotiabank increased their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays raised their price objective on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 target price on the stock. Morgan Stanley started coverage on Dominion Energy in a report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $61.00 price target on shares of Dominion Energy in a research note on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.58.

Dominion Energy Price Performance

NYSE:D opened at $53.77 on Wednesday. Dominion Energy, Inc. has a 12-month low of $43.53 and a 12-month high of $61.97. The firm has a market cap of $45.17 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.44 and a beta of 0.60. The company’s 50-day moving average is $55.64 and its two-hundred day moving average is $55.68. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.

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

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, November 29th. Dominion Energy’s dividend payout ratio is currently 93.68%.

About Dominion Energy

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.