Private Management Group Inc. Invests $216,000 in Dominion Energy, Inc. (NYSE:D)

Private Management Group Inc. purchased a new stake in shares of Dominion Energy, Inc. (NYSE:D) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,731 shares of the utilities provider’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new position in Dominion Energy during the 2nd quarter valued at approximately $27,000. LRI Investments LLC purchased a new stake in Dominion Energy in the first quarter worth $32,000. Reston Wealth Management LLC bought a new stake in Dominion Energy in the third quarter valued at $36,000. Triad Wealth Partners LLC purchased a new position in Dominion Energy during the 2nd quarter valued at $33,000. Finally, Opal Wealth Advisors LLC bought a new position in Dominion Energy in the 2nd quarter worth $35,000. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $58.99 on Friday. Dominion Energy, Inc. has a 1 year low of $40.44 and a 1 year high of $61.97. The firm’s 50-day moving average is $57.87 and its 200 day moving average is $54.10. The stock has a market cap of $49.49 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.58 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio is currently 140.53%.

Analysts Set New Price Targets

D has been the topic of several research analyst reports. Scotiabank boosted their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Barclays increased 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. Jefferies Financial Group started coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, BMO Capital Markets boosted their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.40.

Dominion Energy 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.