Legg Mason Asset Management Japan Co. Ltd. reduced its stake in Dominion Energy Inc (NYSE:D) by 28.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,900 shares of the utilities provider’s stock after selling 3,100 shares during the period. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Dominion Energy were worth $565,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its position in shares of Dominion Energy by 1.7% during the third quarter. Vanguard Group Inc now owns 49,883,013 shares of the utilities provider’s stock valued at $3,505,778,000 after buying an additional 825,191 shares during the last quarter. BlackRock Inc. boosted its position in shares of Dominion Energy by 2.2% during the fourth quarter. BlackRock Inc. now owns 47,209,637 shares of the utilities provider’s stock valued at $3,373,599,000 after buying an additional 1,032,107 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Dominion Energy by 23.1% during the fourth quarter. Geode Capital Management LLC now owns 9,056,270 shares of the utilities provider’s stock valued at $646,097,000 after buying an additional 1,697,619 shares during the last quarter. Northern Trust Corp boosted its position in shares of Dominion Energy by 7.9% during the fourth quarter. Northern Trust Corp now owns 8,392,621 shares of the utilities provider’s stock valued at $599,737,000 after buying an additional 613,093 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Dominion Energy by 29.9% during the third quarter. Bank of New York Mellon Corp now owns 6,146,819 shares of the utilities provider’s stock valued at $431,998,000 after buying an additional 1,413,097 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
D stock opened at $77.04 on Friday. Dominion Energy Inc has a fifty-two week low of $61.53 and a fifty-two week high of $77.22. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.49 and a current ratio of 0.67. The stock has a market capitalization of $61.58 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 3.34 and a beta of 0.22.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st will be paid a $0.9175 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $3.67 annualized dividend and a dividend yield of 4.76%. This is an increase from Dominion Energy’s previous quarterly dividend of $0.84. Dominion Energy’s dividend payout ratio (DPR) is 90.62%.
In related news, CFO James R. Chapman acquired 4,053 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The shares were purchased at an average price of $74.02 per share, with a total value of $300,003.06. Following the completion of the purchase, the chief financial officer now directly owns 22,256 shares of the company’s stock, valued at $1,647,389.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert H. Spilman, Jr. sold 1,215 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.01, for a total value of $92,352.15. Following the completion of the transaction, the director now directly owns 23,598 shares in the company, valued at approximately $1,793,683.98. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.
A number of research analysts have weighed in on the company. Argus reissued a “buy” rating on shares of Dominion Energy in a report on Wednesday, February 27th. ValuEngine raised Dominion Energy from a “hold” rating to a “buy” rating in a report on Saturday, December 15th. Mizuho assumed coverage on Dominion Energy in a report on Monday, March 11th. They issued a “neutral” rating and a $76.00 target price on the stock. Zacks Investment Research raised Dominion Energy from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Monday, January 7th. Finally, UBS Group raised Dominion Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $75.00 to $84.00 in a report on Thursday, November 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.75.
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Dominion Energy Company Profile
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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