Allspring Global Investments Holdings LLC Grows Position in Dominion Energy, Inc. (NYSE:D)

Allspring Global Investments Holdings LLC grew its stake in Dominion Energy, Inc. (NYSE:D) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,770 shares of the utilities provider’s stock after acquiring an additional 1,130 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dominion Energy were worth $14,319,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in D. Family Firm Inc. purchased a new stake in Dominion Energy in the 2nd quarter worth approximately $27,000. LRI Investments LLC acquired a new position in Dominion Energy in the first quarter valued at $30,000. Triad Wealth Partners LLC purchased a new position in Dominion Energy during the second quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new stake in Dominion Energy in the 2nd quarter worth about $35,000. Finally, Kimelman & Baird LLC purchased a new stake in Dominion Energy in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on D shares. JPMorgan Chase & Co. lifted their price target on shares of 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 boosted their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Barclays raised their price objective on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. Finally, Scotiabank raised their price target 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. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.40.

Dominion Energy Price Performance

Shares of D stock opened at $59.58 on Friday. The firm has a fifty day moving average of $57.52 and a two-hundred day moving average of $53.62. The firm has a market cap of $49.90 billion, a P/E ratio of 30.71, a P/E/G ratio of 1.60 and a beta of 0.60. Dominion Energy, Inc. has a 1-year low of $39.44 and a 1-year high of $61.26. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78.

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

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.6675 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a yield of 4.48%. Dominion Energy’s dividend payout ratio is currently 137.63%.

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.