Sagefield Capital LP Raises Position in Dominion Energy, Inc. (NYSE:D)

Sagefield Capital LP lifted its stake in shares of Dominion Energy, Inc. (NYSE:D) by 26.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,324 shares of the utilities provider’s stock after acquiring an additional 16,392 shares during the quarter. Sagefield Capital LP’s holdings in Dominion Energy were worth $3,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Family Firm Inc. purchased a new position in Dominion Energy in the second quarter worth approximately $27,000. Rise Advisors LLC purchased a new stake in shares of Dominion Energy during the 1st quarter worth $30,000. LRI Investments LLC acquired a new position in shares of Dominion Energy during the first quarter worth $30,000. Triad Wealth Partners LLC purchased a new position in Dominion Energy in the second quarter valued at $33,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Dominion Energy in the second quarter valued at $35,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Down 0.1 %

Shares of NYSE:D opened at $57.86 on Tuesday. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $58.94. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. The stock has a market cap of $48.46 billion, a P/E ratio of 29.82, a P/E/G ratio of 1.57 and a beta of 0.60. The firm has a fifty day moving average price of $55.36 and a 200 day moving average price of $52.09.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts predict that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Friday, August 30th. Dominion Energy’s payout ratio is currently 137.63%.

Wall Street Analyst Weigh In

D has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. BMO Capital Markets raised their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Scotiabank upped their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on shares of Dominion Energy in a research note on Friday. They set a “hold” rating and a $58.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Dominion Energy presently has a consensus rating of “Hold” and a consensus price target of $54.50.

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.