DNB Asset Management AS Purchases 26,123 Shares of Dominion Energy, Inc. (NYSE:D)

Defense World · Mar 21, 2023 20:14

DNB Asset Management AS lifted its stake in shares of Dominion Energy, Inc. (NYSE:D) by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 233,127 shares of the utilities provider's stock after acquiring an additional 26,123 shares during the period. DNB Asset Management AS's holdings in Dominion Energy were worth $14,295,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its holdings in shares of Dominion Energy by 434.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 769 shares of the utilities provider's stock worth $53,000 after acquiring an additional 625 shares during the last quarter. Jump Financial LLC purchased a new position in Dominion Energy in the 3rd quarter worth $303,000. Mirova purchased a new position in Dominion Energy in the 2nd quarter worth $89,000. Thomasville National Bank raised its position in Dominion Energy by 2.0% in the 3rd quarter. Thomasville National Bank now owns 187,599 shares of the utilities provider's stock worth $12,964,000 after purchasing an additional 3,732 shares during the period. Finally, Symmetry Partners LLC raised its position in Dominion Energy by 9.7% in the 3rd quarter. Symmetry Partners LLC now owns 5,559 shares of the utilities provider's stock worth $384,000 after purchasing an additional 492 shares during the period. 70.30% of the stock is owned by institutional investors.

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Dominion Energy Price Performance

Shares of NYSE D opened at $55.62 on Tuesday. Dominion Energy, Inc. has a 1 year low of $52.92 and a 1 year high of $88.78. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.73 and a quick ratio of 0.60. The company's 50-day moving average is $58.99 and its 200 day moving average is $63.85. The stock has a market capitalization of $46.45 billion, a P/E ratio of 51.03, a P/E/G ratio of 0.93 and a beta of 0.45.

Dominion Energy (NYSE:D – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. Dominion Energy had a net margin of 5.79% and a return on equity of 13.35%. The company had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. Dominion Energy's quarterly revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts expect that Dominion Energy, Inc. will post 3.99 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Investors of record on Friday, March 3rd were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Thursday, March 2nd. Dominion Energy's payout ratio is currently 244.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Dominion Energy in a research report on Thursday, March 16th. They issued a "hold" rating on the stock. Morgan Stanley decreased their target price on shares of Dominion Energy from $65.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Dominion Energy from $76.00 to $66.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 11th. BMO Capital Markets decreased their price objective on shares of Dominion Energy from $66.00 to $61.00 and set an "outperform" rating on the stock in a research report on Monday, February 27th. Finally, Guggenheim decreased their price objective on shares of Dominion Energy from $69.00 to $63.00 and set a "buy" rating on the stock in a research report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $66.50.

About Dominion Energy

Dominion Energy, Inc engages in the production and distribution of energy. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets, and Corporate and Other. The Corporate and Other segment focuses on corporate, service company, non-controlling interest in Dominion privatization, and non-regulated retail energy marketing operations.

DNB Asset Management AS Purchases 26,123 Shares of Dominion Energy, Inc. (NYSE:D)

Dominion Energy Price Performance

Dominion Energy Announces Dividend

Wall Street Analyst Weigh In

About Dominion Energy

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