Eastern Bank Increases Stock Position in Dominion Energy Inc. (NYSE:D)

by · The Markets Daily

Eastern Bank increased its position in shares of Dominion Energy Inc. (NYSE:D – Free Report) by 6.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,502 shares of the utilities provider’s stock after buying an additional 600 shares during the period. Eastern Bank’s holdings in Dominion Energy were worth $533,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Dominion Energy by 64.3% during the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock valued at $489,000 after purchasing an additional 3,553 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Dominion Energy during the fourth quarter valued at $68,000. Alliancebernstein L.P. lifted its holdings in Dominion Energy by 11.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,122,952 shares of the utilities provider’s stock valued at $60,482,000 after purchasing an additional 113,806 shares in the last quarter. National Bank of Canada FI lifted its holdings in Dominion Energy by 1.8% during the fourth quarter. National Bank of Canada FI now owns 475,639 shares of the utilities provider’s stock valued at $25,438,000 after purchasing an additional 8,625 shares in the last quarter. Finally, StoneX Group Inc. purchased a new position in Dominion Energy during the fourth quarter valued at $905,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Dominion Energy from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $53.00 to $56.00 and gave the company an “underweight” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.88.

Check Out Our Latest Research Report on D

Dominion Energy Stock Performance

NYSE:D opened at $58.47 on Friday. The company’s 50-day moving average price is $56.61 and its 200-day moving average price is $55.33. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a market cap of $49.86 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.26 and a beta of 0.56. Dominion Energy Inc. has a twelve month low of $48.07 and a twelve month high of $61.97.

Dominion Energy (NYSE:D – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. Dominion Energy had a net margin of 15.55% and a return on equity of 9.51%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. On average, sell-side analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Investors of record on Friday, September 5th will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.6%. Dominion Energy’s payout ratio is currently 100.00%.

Dominion Energy Company Profile

(Free Report)

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.

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