DnB Asset Management AS Has $25.22 Million Stock Holdings in Dominion Energy, Inc. (NYSE:D)

DnB Asset Management AS raised its position in shares of Dominion Energy, Inc. (NYSE:D) by 47.8% in the 4th quarter, Holdings Channel reports. The firm owned 468,206 shares of the utilities provider’s stock after acquiring an additional 151,357 shares during the period. DnB Asset Management AS’s holdings in Dominion Energy were worth $25,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Simon Quick Advisors LLC raised its holdings in shares of Dominion Energy by 4.5% during the 4th quarter. Simon Quick Advisors LLC now owns 4,250 shares of the utilities provider’s stock worth $229,000 after buying an additional 184 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its position in Dominion Energy by 2.6% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 7,786 shares of the utilities provider’s stock valued at $450,000 after acquiring an additional 195 shares during the last quarter. Choate Investment Advisors raised its stake in Dominion Energy by 5.4% during the fourth quarter. Choate Investment Advisors now owns 3,880 shares of the utilities provider’s stock worth $209,000 after acquiring an additional 198 shares in the last quarter. Passumpsic Savings Bank lifted its holdings in shares of Dominion Energy by 2.7% in the third quarter. Passumpsic Savings Bank now owns 7,639 shares of the utilities provider’s stock worth $441,000 after acquiring an additional 199 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in shares of Dominion Energy by 1.6% in the 4th quarter. Meridian Financial Partners LLC now owns 13,970 shares of the utilities provider’s stock valued at $752,000 after purchasing an additional 219 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on D shares. UBS Group raised their target price on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Morgan Stanley increased their price target on Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Argus upgraded Dominion Energy to a “hold” rating in a research report on Tuesday. Scotiabank increased their target price on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price target on Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.58.

Dominion Energy Price Performance

D stock opened at $54.98 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The company’s fifty day simple moving average is $55.17 and its 200 day simple moving average is $56.19. Dominion Energy, Inc. has a 12-month low of $46.62 and a 12-month high of $61.97. The firm has a market cap of $46.85 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.22 and a beta of 0.59.

Dominion Energy (NYSE:D) last announced its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. On average, analysts expect that Dominion Energy, Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were given a dividend of $0.6675 per share. The ex-dividend date was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.86%. Dominion Energy’s payout ratio is presently 98.89%.

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.