Investment Management Corp of Ontario Increases Stake in Dominion Energy, Inc. (NYSE:D)

Investment Management Corp of Ontario boosted its stake in Dominion Energy, Inc. (NYSE:D) by 434.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,816 shares of the utilities provider’s stock after purchasing an additional 120,975 shares during the quarter. Investment Management Corp of Ontario’s holdings in Dominion Energy were worth $8,015,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hudson Bay Capital Management LP purchased a new stake in shares of Dominion Energy during the 4th quarter worth about $2,892,000. Gotham Asset Management LLC increased its position in shares of Dominion Energy by 128.4% in the fourth quarter. Gotham Asset Management LLC now owns 488,062 shares of the utilities provider’s stock worth $26,287,000 after acquiring an additional 274,339 shares in the last quarter. Graver Capital Management LLC purchased a new position in shares of Dominion Energy in the 4th quarter valued at $431,000. Focus Partners Wealth boosted its position in Dominion Energy by 30.1% during the 4th quarter. Focus Partners Wealth now owns 165,069 shares of the utilities provider’s stock worth $8,891,000 after purchasing an additional 38,191 shares during the period. Finally, Ethic Inc. increased its holdings in Dominion Energy by 70.5% in the 4th quarter. Ethic Inc. now owns 9,184 shares of the utilities provider’s stock valued at $495,000 after purchasing an additional 3,797 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Price Performance

Shares of D stock opened at $55.10 on Friday. The firm has a market cap of $46.99 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.22 and a beta of 0.57. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. Dominion Energy, Inc. has a 1-year low of $47.99 and a 1-year high of $61.97. The firm has a fifty day moving average of $53.94 and a two-hundred day moving average of $55.23.

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

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be given a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.85%. Dominion Energy’s payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

D has been the topic of a number of recent research reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $52.00 price objective (down previously from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. Morgan Stanley upped their price target on Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. UBS Group lifted their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Argus upgraded shares of Dominion Energy to a “hold” rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.75.

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.