Lake Street Advisors Group LLC Buys Shares of 5,661 Dominion Energy, Inc. (NYSE:D)

Lake Street Advisors Group LLC purchased a new position in shares of Dominion Energy, Inc. (NYSE:D) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,661 shares of the utilities provider’s stock, valued at approximately $278,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Dominion Energy by 16.0% during the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after buying an additional 12,178,713 shares during the period. Capital Research Global Investors boosted its position in shares of Dominion Energy by 136.5% during the 4th quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after purchasing an additional 10,370,768 shares during the period. Norges Bank acquired a new stake in Dominion Energy in the 4th quarter valued at approximately $329,792,000. ClearBridge Investments Ltd purchased a new stake in Dominion Energy in the fourth quarter valued at approximately $214,220,000. Finally, Wellington Management Group LLP raised its position in Dominion Energy by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock valued at $869,184,000 after purchasing an additional 2,153,488 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Up 1.2 %

Shares of D traded up $0.60 during midday trading on Thursday, reaching $52.73. The stock had a trading volume of 1,107,135 shares, compared to its average volume of 4,665,500. The company has a market cap of $44.17 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.36 and a beta of 0.58. The company’s fifty day simple moving average is $51.19 and its two-hundred day simple moving average is $49.08. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $54.74. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. Dominion Energy’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Equities research analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Friday, May 31st. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on D shares. StockNews.com raised Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Scotiabank reduced their price target on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets lowered their price objective on shares of Dominion Energy from $52.00 to $51.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Bank of America raised shares of Dominion Energy from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $43.00 to $54.00 in a research note on Friday, May 10th. Finally, Evercore ISI raised their price target on shares of Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.64.

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.