Verus Financial Partners Inc. Buys 848 Shares of Dominion Energy, Inc. (NYSE:D)

Verus Financial Partners Inc. grew its stake in Dominion Energy, Inc. (NYSE:D) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,956 shares of the utilities provider’s stock after acquiring an additional 848 shares during the quarter. Verus Financial Partners Inc.’s holdings in Dominion Energy were worth $852,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. raised its holdings in Dominion Energy by 22.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 69,343 shares of the utilities provider’s stock worth $4,007,000 after acquiring an additional 12,890 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Dominion Energy by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,164,929 shares of the utilities provider’s stock worth $298,481,000 after purchasing an additional 43,055 shares during the last quarter. Ascent Wealth Partners LLC bought a new position in shares of Dominion Energy during the third quarter valued at $1,223,000. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Dominion Energy by 63.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock valued at $487,567,000 after buying an additional 3,278,175 shares during the last quarter. Finally, Barclays PLC increased its holdings in Dominion Energy by 19.8% in the 3rd quarter. Barclays PLC now owns 2,452,701 shares of the utilities provider’s stock worth $141,739,000 after buying an additional 404,868 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on D. Morgan Stanley assumed coverage on shares of Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 target price for the company. Scotiabank upped their price objective on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Barclays raised their target price on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $61.00 price target on shares of Dominion Energy in a research report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Dominion Energy has an average rating of “Hold” and an average price target of $56.58.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $55.47 on Friday. The firm has a fifty day simple moving average of $54.96 and a two-hundred day simple moving average of $56.05. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $46.60 billion, a P/E ratio of 19.46, a PEG ratio of 1.20 and a beta of 0.60. Dominion Energy, Inc. has a 52 week low of $43.53 and a 52 week high of $61.97.

Dominion Energy (NYSE:D) last announced its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a yield of 4.81%. Dominion Energy’s payout ratio is 93.68%.

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.