Van ECK Associates Corp Acquires 15,790 Shares of Dominion Energy, Inc. (NYSE:D)

Van ECK Associates Corp lifted its stake in Dominion Energy, Inc. (NYSE:D) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 232,143 shares of the utilities provider’s stock after purchasing an additional 15,790 shares during the period. Van ECK Associates Corp’s holdings in Dominion Energy were worth $14,144,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in D. Family Firm Inc. acquired a new stake in Dominion Energy in the second quarter worth $27,000. LRI Investments LLC acquired a new stake in Dominion Energy during the 1st quarter worth $30,000. Triad Wealth Partners LLC bought a new position in Dominion Energy during the second quarter worth about $33,000. Opal Wealth Advisors LLC bought a new stake in shares of Dominion Energy in the second quarter worth about $35,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Dominion Energy during the second quarter worth about $36,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Trading Up 1.7 %

Shares of NYSE:D opened at $58.59 on Wednesday. The company has a 50-day simple moving average of $57.94 and a 200 day simple moving average of $54.27. The company has a market capitalization of $49.15 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 1.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. Dominion Energy, Inc. has a 52-week low of $43.53 and a 52-week high of $61.97.

Dominion Energy (NYSE:D) last issued its earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.39% and a net margin of 16.95%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Friday, November 29th. Dominion Energy’s payout ratio is 93.68%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. BMO Capital Markets increased their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Scotiabank boosted their target price on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Barclays raised their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group began coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.40.

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.