Grimes & Company Inc. Buys 1,488 Shares of Dominion Energy, Inc. (NYSE:D)

Grimes & Company Inc. grew its stake in shares of Dominion Energy, Inc. (NYSE:D) by 15.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,864 shares of the utilities provider’s stock after acquiring an additional 1,488 shares during the period. Grimes & Company Inc.’s holdings in Dominion Energy were worth $534,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of Dominion Energy by 196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after purchasing an additional 259,978 shares in the last quarter. Morgan Stanley lifted its holdings in Dominion Energy by 12.8% during the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after buying an additional 803,341 shares during the period. International Assets Investment Management LLC boosted its position in Dominion Energy by 1,797.9% during the 4th quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock valued at $7,798,000 after acquiring an additional 157,175 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Dominion Energy by 97.3% in the 4th quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock valued at $674,000 after acquiring an additional 7,071 shares during the period. Finally, Sapient Capital LLC bought a new position in shares of Dominion Energy in the 4th quarter worth $263,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on D shares. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $43.00 to $54.00 in a research note on Friday, May 10th. Barclays reduced their price objective on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Guggenheim lowered their target price on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. StockNews.com raised Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, BMO Capital Markets boosted their target price on Dominion Energy from $51.00 to $52.00 and gave the stock a “market perform” rating in a research note on Monday, May 6th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.73.

Dominion Energy Stock Down 1.2 %

Dominion Energy stock opened at $49.00 on Friday. Dominion Energy, Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $54.74. The company has a market cap of $41.04 billion, a PE ratio of 25.26, a PEG ratio of 1.31 and a beta of 0.60. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05. The business’s 50-day simple moving average is $51.64 and its two-hundred day simple moving average is $48.74.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. Dominion Energy’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. Equities analysts anticipate that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Friday, May 31st. Dominion Energy’s dividend payout ratio is currently 137.63%.

Dominion Energy 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.