Sandy Spring Bank grew its position in Dominion Energy Inc (NYSE:D) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,140 shares of the utilities provider’s stock after buying an additional 140 shares during the period. Sandy Spring Bank’s holdings in Dominion Energy were worth $1,866,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Interactive Financial Advisors acquired a new stake in shares of Dominion Energy during the first quarter worth $26,000. Massey Quick Simon & CO. LLC bought a new position in Dominion Energy during the first quarter worth about $27,000. Mark Sheptoff Financial Planning LLC lifted its holdings in Dominion Energy by 133.3% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 350 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Manchester Financial Inc. bought a new position in Dominion Energy during the second quarter worth about $27,000. Finally, NuWave Investment Management LLC lifted its holdings in Dominion Energy by 651.0% during the second quarter. NuWave Investment Management LLC now owns 368 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 319 shares in the last quarter. 63.99% of the stock is owned by institutional investors.
D has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Dominion Energy in a report on Wednesday, August 7th. They set an “equal weight” rating and a $81.00 target price on the stock. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $79.00 to $80.00 in a report on Thursday, June 13th. They noted that the move was a valuation call. ValuEngine lowered Dominion Energy from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Wolfe Research upgraded Dominion Energy from a “peer perform” rating to an “outperform” rating in a report on Thursday, August 1st. Finally, Credit Suisse Group upgraded Dominion Energy from a “neutral” rating to an “outperform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $79.08.
Dominion Energy (NYSE:D) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.21 billion. Dominion Energy had a return on equity of 11.74% and a net margin of 5.94%. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. On average, analysts anticipate that Dominion Energy Inc will post 4.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.9175 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.67 dividend on an annualized basis and a dividend yield of 4.82%. Dominion Energy’s dividend payout ratio (DPR) is 90.62%.
About Dominion Energy
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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