Illinois Municipal Retirement Fund Increases Position in Dominion Energy, Inc. (NYSE:D)

Illinois Municipal Retirement Fund lifted its position in shares of Dominion Energy, Inc. (NYSE:D) by 26.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 189,457 shares of the utilities provider’s stock after buying an additional 39,644 shares during the period. Illinois Municipal Retirement Fund’s holdings in Dominion Energy were worth $10,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its stake in Dominion Energy by 3.2% during the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after purchasing an additional 1,365,555 shares during the period. JPMorgan Chase & Co. raised its stake in Dominion Energy by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after purchasing an additional 1,222,688 shares during the period. Geode Capital Management LLC raised its stake in Dominion Energy by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock worth $1,032,941,000 after purchasing an additional 367,193 shares during the period. Bank of New York Mellon Corp raised its stake in Dominion Energy by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock worth $804,606,000 after purchasing an additional 1,068,996 shares during the period. Finally, Franklin Resources Inc. raised its stake in Dominion Energy by 4.8% during the third quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock worth $496,358,000 after purchasing an additional 398,012 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on D. Morgan Stanley began coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target on the stock. 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. Finally, Scotiabank increased their price target on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Price Performance

D opened at $57.44 on Wednesday. The company has a fifty day simple moving average of $54.72 and a 200 day simple moving average of $56.41. The firm has a market cap of $48.25 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.22 and a beta of 0.61. Dominion Energy, Inc. has a twelve month low of $44.17 and a twelve month high of $61.97. 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 released its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. Equities research analysts expect that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Friday, February 28th. Dominion Energy’s payout ratio is 98.89%.

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.