Payden & Rygel Invests $10.73 Million in Dominion Energy, Inc. (NYSE:D)

Payden & Rygel purchased a new position in Dominion Energy, Inc. (NYSE:D) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 199,300 shares of the utilities provider’s stock, valued at approximately $10,734,000.

Several other hedge funds have also recently made changes to their positions in the stock. Howard Capital Management Group LLC purchased a new stake in Dominion Energy in the third quarter worth about $210,000. Benjamin Edwards Inc. lifted its holdings in Dominion Energy by 4,587.3% during the third quarter. Benjamin Edwards Inc. now owns 15,468 shares of the utilities provider’s stock valued at $894,000 after purchasing an additional 15,138 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Dominion Energy by 264.6% in the third quarter. Holocene Advisors LP now owns 59,497 shares of the utilities provider’s stock worth $3,438,000 after purchasing an additional 43,177 shares during the period. HighTower Advisors LLC increased its stake in Dominion Energy by 34.7% in the 3rd quarter. HighTower Advisors LLC now owns 394,423 shares of the utilities provider’s stock worth $22,799,000 after buying an additional 101,665 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of Dominion Energy by 34.7% in the third quarter. Royal London Asset Management Ltd. now owns 208,063 shares of the utilities provider’s stock valued at $12,024,000 after acquiring an additional 53,570 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on D shares. UBS Group upped their price target on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Scotiabank increased their price target on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Morgan Stanley upped their price objective on Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Finally, Argus raised shares of Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.58.

Dominion Energy Trading Down 6.1 %

D stock opened at $52.83 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The company has a market capitalization of $45.02 billion, a PE ratio of 19.57, a P/E/G ratio of 1.22 and a beta of 0.57. The firm’s 50-day moving average is $55.31 and its 200 day moving average is $56.12. Dominion Energy, Inc. has a 12 month low of $46.62 and a 12 month high of $61.97.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Dominion Energy, Inc. will post 3.39 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders 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 annualized dividend and a yield of 5.05%. Dominion Energy’s dividend payout ratio (DPR) is presently 98.89%.

Dominion Energy Company Profile

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.