Harmony Asset Management LLC Purchases New Position in Dominion Energy, Inc. (NYSE:D)

Harmony Asset Management LLC purchased a new stake in shares of Dominion Energy, Inc. (NYSE:D) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,379 shares of the utilities provider’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Barclays PLC boosted its stake in shares of Dominion Energy by 19.8% during the 3rd quarter. Barclays PLC now owns 2,452,701 shares of the utilities provider’s stock valued at $141,739,000 after purchasing an additional 404,868 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Dominion Energy by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after buying an additional 1,222,688 shares during the period. Merit Financial Group LLC boosted its position in Dominion Energy by 21.7% during the 4th quarter. Merit Financial Group LLC now owns 12,216 shares of the utilities provider’s stock valued at $658,000 after acquiring an additional 2,175 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Dominion Energy by 13.0% during the 4th quarter. Arkadios Wealth Advisors now owns 4,930 shares of the utilities provider’s stock worth $266,000 after acquiring an additional 569 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Dominion Energy by 6.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,100 shares of the utilities provider’s stock worth $221,000 after acquiring an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group lifted their price target on Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. restated an “underweight” rating and set a $52.00 target price (down previously from $59.00) on shares of Dominion Energy in a report on Tuesday, April 8th. Argus raised shares of Dominion Energy to a “hold” rating in a research report on Tuesday, March 25th. Finally, Morgan Stanley lowered their price target on shares of Dominion Energy from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and an average target price of $58.63.

Dominion Energy Trading Down 1.5%

Dominion Energy stock opened at $55.70 on Friday. Dominion Energy, Inc. has a 12 month low of $47.99 and a 12 month high of $61.97. The company has a market capitalization of $47.50 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57. The business’s fifty day simple moving average is $54.10 and its two-hundred day simple moving average is $55.03. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the business posted $0.55 EPS. Dominion Energy’s revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts predict that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Thursday, May 29th. Dominion Energy’s payout ratio is 100.00%.

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.