8,788,608 Shares in Dominion Energy, Inc. (NYSE:D) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of Dominion Energy, Inc. (NYSE:D) in the 4th quarter, HoldingsChannel reports. The firm acquired 8,788,608 shares of the utilities provider’s stock, valued at approximately $473,354,000.

A number of other hedge funds also recently added to or reduced their stakes in D. Howard Capital Management Group LLC purchased a new stake in shares of Dominion Energy during the third quarter worth approximately $210,000. Larson Financial Group LLC increased its stake in Dominion Energy by 282.4% in the 3rd quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock valued at $35,000 after buying an additional 449 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Dominion Energy by 1.6% in the 3rd quarter. D.A. Davidson & CO. now owns 55,626 shares of the utilities provider’s stock worth $3,215,000 after acquiring an additional 898 shares during the period. FMR LLC boosted its holdings in shares of Dominion Energy by 20.5% in the third quarter. FMR LLC now owns 3,800,024 shares of the utilities provider’s stock valued at $219,603,000 after acquiring an additional 647,725 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Dominion Energy by 0.8% during the third quarter. Quantbot Technologies LP now owns 34,072 shares of the utilities provider’s stock worth $1,969,000 after acquiring an additional 283 shares during the period. 73.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on D shares. Scotiabank raised their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Argus upgraded Dominion Energy to a “hold” rating in a research note on Tuesday. UBS Group increased their price objective on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Morgan Stanley boosted their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. Thirteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Dominion Energy has an average rating of “Hold” and a consensus target price of $57.58.

Dominion Energy Stock Performance

NYSE:D opened at $54.98 on Friday. Dominion Energy, Inc. has a twelve month low of $46.62 and a twelve month high of $61.97. The company has a market capitalization of $46.85 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $55.17 and a two-hundred day moving average price of $56.19.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. As a group, research analysts expect that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, February 28th. Dominion Energy’s payout ratio is currently 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.