Dominion Energy Inc. $D Stock: Illinois Municipal Retirement Fund Raises Holdings

Illinois Municipal Retirement Fund grew its position in Dominion Energy Inc. (NYSE:D) by 5.9% during the third quarter, HoldingsChannel reports. The firm owned 145,258 shares of the utilities provider’s stock after buying an additional 8,064 shares during the period. Illinois Municipal Retirement Fund’s holdings in Dominion Energy were worth $8,791,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Dominion Energy during the second quarter worth $4,986,439,000. State Street Corp lifted its holdings in Dominion Energy by 3.5% in the second quarter. State Street Corp now owns 50,917,469 shares of the utilities provider’s stock valued at $3,477,154,000 after buying an additional 1,704,954 shares during the period. Bank of America Corp DE acquired a new position in Dominion Energy in the second quarter valued at $996,984,000. Bank of New York Mellon Corp acquired a new position in Dominion Energy in the second quarter valued at $697,388,000. Finally, Legal & General Group Plc bought a new stake in Dominion Energy during the second quarter valued at $467,353,000. 73.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore increased their price target on Dominion Energy from $67.00 to $70.00 in a report on Thursday, October 8th. Scotiabank dropped their price objective on Dominion Energy from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 30th. UBS Group set a $80.00 price objective on Dominion Energy in a research note on Wednesday, August 19th. Jefferies Financial Group cut their target price on Dominion Energy from $79.00 to $71.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Finally, Barclays decreased their target price on Dominion Energy from $69.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.33.

Latest Dominion Energy News

Here’s some of the latest news about D:

• Negative Sentiment: Virginia Consumer Counsel has raised concerns about gaps in merger filings, including analysis of competitive effects and rate impacts, and whether customer protections would be enforceable. The criticism may complicate regulatory approval or require further review. Article: NextEra Energy draws fresh Virginia questions over merger consumer protections
• Negative Sentiment: Virginia Governor-elect Abigail Spanberger said assurances alone are insufficient on the merger, signaling that consumer protections and evidence will be closely scrutinized. This adds to uncertainty around the deal’s path to approval. Article: Spanberger says “Trust us” won’t cut it on Dominion merger
• Negative Sentiment: Dominion is seeking another rate increase as lawmakers hold an energy town hall. While approval could support utility revenues, the request may heighten affordability concerns and public or regulatory resistance. Article: Dominion seeks another rate hike as lawmakers hold energy town hall

Dominion Energy Stock Performance

NYSE:D opened at $67.51 on Friday. The company has a fifty day moving average of $64.12 and a 200-day moving average of $65.14. The firm has a market capitalization of $59.38 billion, a P/E ratio of 18.40, a P/E/G ratio of 3.16 and a beta of 0.62. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.46. Dominion Energy Inc. has a twelve month low of $55.85 and a twelve month high of $72.99.

Dominion Energy (NYSE:D) last released its earnings results on Friday, October 30th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $4.90 billion. Dominion Energy had a net margin of 13.99% and a return on equity of 10.09%. Dominion Energy’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. As a group, sell-side analysts anticipate that Dominion Energy Inc. will post 3.59 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 20th. Shareholders of record on Friday, December 4th will be paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, December 4th. Dominion Energy’s payout ratio is 88.70%.

Dominion Energy Company Profile

Dominion Energy, Inc. (NYSE: D) is an energy company focused primarily on regulated electric and natural gas utility services. Its businesses generate, transmit and distribute electricity and deliver natural gas to residential, commercial and industrial customers. The company’s electric utility operations serve customers in Virginia and northeastern North Carolina, as well as parts of South Carolina through Dominion Energy South Carolina. Its power portfolio includes nuclear, natural gas, solar and other energy sources.