Salvus Wealth Management LLC Increases Position in Dominion Energy, Inc. (NYSE:D)

Salvus Wealth Management LLC boosted its holdings in Dominion Energy, Inc. (NYSE:D) by 23.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,679 shares of the utilities provider’s stock after purchasing an additional 2,389 shares during the period. Salvus Wealth Management LLC’s holdings in Dominion Energy were worth $711,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Dominion Energy during the fourth quarter valued at about $473,354,000. American Century Companies Inc. grew its position in shares of Dominion Energy by 207.7% in the fourth quarter. American Century Companies Inc. now owns 3,763,898 shares of the utilities provider’s stock valued at $202,724,000 after purchasing an additional 2,540,713 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Dominion Energy by 8,585.3% during the 4th quarter. Marshall Wace LLP now owns 2,210,322 shares of the utilities provider’s stock valued at $119,048,000 after purchasing an additional 2,184,873 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Dominion Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock worth $1,667,540,000 after purchasing an additional 1,459,926 shares in the last quarter. Finally, Zimmer Partners LP bought a new position in Dominion Energy in the 4th quarter worth about $72,269,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Stock Down 1.1%

D opened at $56.08 on Thursday. The company has a market cap of $47.82 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.22 and a beta of 0.57. Dominion Energy, Inc. has a 12 month low of $47.99 and a 12 month high of $61.97. The business’s 50-day moving average price is $54.46 and its 200-day moving average price is $54.97. 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 data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. On average, equities analysts expect that Dominion Energy, Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently announced 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. 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 4.76%. Dominion Energy’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on D shares. Morgan Stanley decreased their price target on Dominion Energy from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $52.00 price target (down from $59.00) on shares of Dominion Energy in a report on Tuesday, April 8th. Argus upgraded shares of Dominion Energy to a “hold” rating in a research report on Tuesday, March 25th. Finally, UBS Group increased their price objective on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.63.

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.