Groesbeck Investment Management Corp NJ Purchases Shares of 5,439 Dominion Energy, Inc. (NYSE:D)

Groesbeck Investment Management Corp NJ purchased a new stake in shares of Dominion Energy, Inc. (NYSE:D) in the fourth quarter, HoldingsChannel reports. The firm purchased 5,439 shares of the utilities provider’s stock, valued at approximately $293,000.

A number of other institutional investors have also made changes to their positions in D. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Dominion Energy in the third quarter valued at approximately $28,000. Roble Belko & Company Inc acquired a new position in shares of Dominion Energy in the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new position in shares of Dominion Energy in the third quarter valued at approximately $32,000. Dunhill Financial LLC grew its holdings in shares of Dominion Energy by 601.2% in the third 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. Finally, Larson Financial Group LLC grew its holdings in Dominion Energy by 282.4% during the 3rd quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 449 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Scotiabank boosted their price target on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Barclays boosted their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research report on Friday, November 8th. Finally, Morgan Stanley began coverage on shares of Dominion Energy in a research report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price target for the company. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.58.

Dominion Energy Stock Performance

NYSE:D opened at $54.00 on Wednesday. The stock has a market cap of $45.36 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.21 and a beta of 0.61. Dominion Energy, Inc. has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The firm’s fifty day simple moving average is $54.91 and its 200-day simple moving average is $56.15. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be paid a $0.6675 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a yield of 4.94%. Dominion Energy’s payout ratio is 93.68%.

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.