Cornercap Investment Counsel Inc. Buys New Stake in Dominion Energy, Inc. (NYSE:D)

Cornercap Investment Counsel Inc. purchased a new position in shares of Dominion Energy, Inc. (NYSE:D) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,309 shares of the utilities provider’s stock, valued at approximately $771,000.

A number of other institutional investors also recently made changes to their positions in D. Norges Bank acquired a new stake in Dominion Energy during the fourth quarter worth approximately $473,354,000. Hotchkis & Wiley Capital Management LLC grew its position in shares of Dominion Energy by 63.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock valued at $487,567,000 after purchasing an additional 3,278,175 shares during the period. American Century Companies Inc. increased its stake in Dominion Energy by 207.7% in the fourth quarter. American Century Companies Inc. now owns 3,763,898 shares of the utilities provider’s stock valued at $202,724,000 after purchasing an additional 2,540,713 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Dominion Energy by 10,324.8% during the third quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider’s stock worth $130,074,000 after buying an additional 2,229,220 shares during the period. Finally, State Street Corp boosted its stake in Dominion Energy by 3.2% in the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after buying an additional 1,365,555 shares during the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $54.98 on Friday. The business’s 50-day simple moving average is $55.17 and its 200 day simple moving average is $56.18. The company has a market cap of $46.85 billion, a P/E ratio of 20.36, a PEG ratio of 1.22 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. Dominion Energy, Inc. has a one year low of $46.62 and a one year high of $61.97.

Dominion Energy (NYSE:D) last posted its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, topping 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%. On average, sell-side analysts forecast that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a yield of 4.86%. Dominion Energy’s dividend payout ratio (DPR) is presently 98.89%.

Analyst Ratings Changes

D has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Scotiabank upped 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 report on Thursday, December 12th. UBS Group lifted their price target on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Argus raised shares of Dominion Energy to a “hold” rating in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. increased their target price on Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dominion Energy presently has an average rating of “Hold” and an average price target of $57.58.

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.