CIBC Private Wealth Group LLC Acquires 567,135 Shares of Dominion Energy, Inc. (NYSE:D)

CIBC Private Wealth Group LLC raised its holdings in Dominion Energy, Inc. (NYSE:D) by 397.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 709,944 shares of the utilities provider’s stock after buying an additional 567,135 shares during the period. CIBC Private Wealth Group LLC owned about 0.08% of Dominion Energy worth $38,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Cape Investment Advisory Inc. grew its holdings in Dominion Energy by 175.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock worth $25,000 after buying an additional 300 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of Dominion Energy in the 4th quarter worth $26,000. Roble Belko & Company Inc bought a new stake in shares of Dominion Energy in the 4th quarter worth $27,000. Fairway Wealth LLC bought a new position in shares of Dominion Energy during the fourth quarter valued at about $27,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in Dominion Energy by 100.4% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 519 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 260 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Price Performance

NYSE D opened at $54.98 on Monday. 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 company has a market cap of $46.85 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. Dominion Energy, Inc. has a 52 week low of $46.62 and a 52 week high of $61.97. The firm’s 50-day simple moving average is $55.17 and its two-hundred day simple moving average is $56.18.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. Research analysts predict that Dominion Energy, Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, February 28th. Dominion Energy’s payout ratio is currently 98.89%.

Analyst Upgrades and Downgrades

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

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.