Wells Fargo & Company MN Grows Position in Dominion Energy, Inc. (NYSE:D)

Wells Fargo & Company MN raised its stake in shares of Dominion Energy, Inc. (NYSE:D) by 0.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,260,339 shares of the utilities provider’s stock after purchasing an additional 4,852 shares during the period. Wells Fargo & Company MN’s holdings in Dominion Energy were worth $229,462,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Smith Moore & CO. boosted its position in shares of Dominion Energy by 13.6% during the fourth quarter. Smith Moore & CO. now owns 8,392 shares of the utilities provider’s stock worth $452,000 after buying an additional 1,002 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Dominion Energy during the 4th quarter worth about $379,000. World Investment Advisors lifted its stake in Dominion Energy by 37.8% during the 4th quarter. World Investment Advisors now owns 19,005 shares of the utilities provider’s stock worth $1,024,000 after acquiring an additional 5,217 shares in the last quarter. Nicolet Advisory Services LLC purchased a new position in Dominion Energy during the 4th quarter valued at about $226,000. Finally, Bryce Point Capital LLC acquired a new position in Dominion Energy in the 4th quarter valued at about $513,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on D shares. UBS Group increased their price target on shares of Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. boosted their price target on shares of Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Morgan Stanley increased their price objective on Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Argus raised Dominion Energy to a “hold” rating in a research note on Tuesday, March 25th. Finally, Scotiabank upped their price target on Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Thirteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.58.

Dominion Energy Stock Performance

Shares of D opened at $52.83 on Friday. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57. Dominion Energy, Inc. has a 52-week low of $46.62 and a 52-week high of $61.97. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average price of $55.31 and a 200 day moving average price of $56.10.

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

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Friday, February 28th. Dominion Energy’s payout ratio is 98.89%.

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.