Geode Capital Management LLC Acquires 601,900 Shares of Dominion Energy, Inc. (NYSE:D)

Geode Capital Management LLC increased its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 3.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,477,121 shares of the utilities provider’s stock after purchasing an additional 601,900 shares during the quarter. Geode Capital Management LLC’s holdings in Dominion Energy were worth $997,034,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of D. StoneX Group Inc. bought a new stake in shares of Dominion Energy in the 4th quarter valued at about $905,000. National Bank of Canada FI increased its stake in Dominion Energy by 1.8% in the fourth quarter. National Bank of Canada FI now owns 475,639 shares of the utilities provider’s stock valued at $25,438,000 after purchasing an additional 8,625 shares in the last quarter. Franklin Resources Inc. raised its holdings in Dominion Energy by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 8,944,086 shares of the utilities provider’s stock worth $481,728,000 after purchasing an additional 225,339 shares during the period. Hoey Investments Inc. bought a new position in shares of Dominion Energy during the fourth quarter worth $40,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Dominion Energy by 11.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,122,952 shares of the utilities provider’s stock valued at $60,482,000 after buying an additional 113,806 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on D shares. Morgan Stanley lifted their target price on Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. UBS Group boosted their price objective on Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Scotiabank raised their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Argus upgraded shares of Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.58.

Dominion Energy Price Performance

Shares of NYSE D opened at $56.27 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The business has a 50-day moving average of $55.26 and a 200-day moving average of $56.15. The stock has a market capitalization of $47.95 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.22 and a beta of 0.57. Dominion Energy, Inc. has a fifty-two week low of $46.62 and a fifty-two week high of $61.97.

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

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend was Friday, February 28th. Dominion Energy’s dividend payout ratio is currently 98.89%.

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.