Dominion Energy, Inc. (NYSE:D) Stock Position Lifted by Van ECK Associates Corp

Van ECK Associates Corp grew its position in Dominion Energy, Inc. (NYSE:D) by 9.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,353 shares of the utilities provider’s stock after acquiring an additional 17,856 shares during the quarter. Van ECK Associates Corp’s holdings in Dominion Energy were worth $10,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Family Firm Inc. acquired a new position in Dominion Energy in the second quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Dominion Energy during the 1st quarter valued at approximately $30,000. LRI Investments LLC bought a new position in Dominion Energy during the 1st quarter worth $30,000. Triad Wealth Partners LLC acquired a new stake in Dominion Energy in the second quarter worth $33,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Dominion Energy in the second quarter worth $35,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on D. JPMorgan Chase & Co. upped their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. StockNews.com upgraded shares of Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Scotiabank boosted their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $43.00 to $54.00 in a research report on Friday, May 10th. Finally, BMO Capital Markets lifted their target price on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Dominion Energy has a consensus rating of “Hold” and an average target price of $54.00.

Dominion Energy Stock Performance

NYSE:D opened at $55.90 on Monday. The company has a 50-day moving average of $52.85 and a 200-day moving average of $50.87. The firm has a market cap of $46.90 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 1.49 and a beta of 0.58. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a twelve month low of $39.18 and a twelve month high of $57.60.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a $0.6675 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.78%. Dominion Energy’s dividend payout ratio (DPR) is 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.