GM Advisory Group Inc. Takes $342,000 Position in Dominion Energy Inc (NYSE:D)
GM Advisory Group Inc. acquired a new stake in shares of Dominion Energy Inc (NYSE:D) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,733 shares of the utilities provider’s stock, valued at approximately $342,000.
Several other institutional investors and hedge funds also recently made changes to their positions in D. Gallagher Fiduciary Advisors LLC acquired a new position in shares of Dominion Energy during the fourth quarter valued at about $507,724,000. Norges Bank acquired a new position in shares of Dominion Energy during the fourth quarter valued at about $489,548,000. FMR LLC raised its position in Dominion Energy by 29.7% in the fourth quarter. FMR LLC now owns 13,271,178 shares of the utilities provider’s stock worth $1,099,119,000 after purchasing an additional 3,035,361 shares in the last quarter. State Street Corp raised its position in Dominion Energy by 6.5% in the fourth quarter. State Street Corp now owns 44,595,752 shares of the utilities provider’s stock worth $3,693,420,000 after purchasing an additional 2,729,077 shares in the last quarter. Finally, BlackRock Inc. raised its position in Dominion Energy by 3.8% in the first quarter. BlackRock Inc. now owns 60,458,867 shares of the utilities provider’s stock worth $4,364,524,000 after purchasing an additional 2,186,966 shares in the last quarter. 66.46% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on D shares. BMO Capital Markets started coverage on shares of Dominion Energy in a research report on Wednesday, February 19th. They issued a “market perform” rating and a $91.00 price target for the company. Credit Suisse Group increased their price target on shares of Dominion Energy from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Cfra increased their price target on shares of Dominion Energy from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Barclays decreased their price objective on shares of Dominion Energy from $93.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, March 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Dominion Energy from $87.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $84.47.
Dominion Energy (NYSE:D) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.01). Dominion Energy had a net margin of 10.80% and a return on equity of 11.97%. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the company earned $1.10 earnings per share. Dominion Energy’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, analysts anticipate that Dominion Energy Inc will post 4.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 20th. Shareholders of record on Friday, June 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 4.35%. Dominion Energy’s payout ratio is presently 88.68%.
Dominion Energy Profile
Dominion Energy, Inc produces and transports energy. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities.
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