Groesbeck Investment Management Corp NJ Buys New Stake in Dominion Energy, Inc. (NYSE:D)

Groesbeck Investment Management Corp NJ bought a new stake in shares of Dominion Energy, Inc. (NYSE:D) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,439 shares of the utilities provider’s stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of D. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Dominion Energy by 63.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock worth $487,567,000 after buying an additional 3,278,175 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Dominion Energy by 10,324.8% in the third quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider’s stock worth $130,074,000 after acquiring an additional 2,229,220 shares during the period. International Assets Investment Management LLC increased its stake in shares of Dominion Energy by 7,438.3% in the third quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock worth $85,734,000 after acquiring an additional 1,463,858 shares during the period. State Street Corp increased its stake in shares of Dominion Energy by 3.2% in the third quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after acquiring an additional 1,365,555 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Dominion Energy by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after acquiring an additional 1,222,688 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Performance

NYSE:D opened at $54.00 on Wednesday. The company’s 50-day moving average price is $54.91 and its 200-day moving average price is $56.15. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The company has a market cap of $45.36 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.21 and a beta of 0.61. Dominion Energy, Inc. has a twelve month low of $43.53 and a twelve month high of $61.97.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, February 28th. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

Wall Street Analyst Weigh In

D has been the topic of a number of research reports. Scotiabank increased their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Barclays increased their price objective 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. Morgan Stanley began coverage on shares of Dominion Energy in a research report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target on the stock. Finally, The Goldman Sachs Group restated 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 assigned a buy rating to the company. Based on data from MarketBeat, Dominion Energy has a consensus rating of “Hold” and a consensus target price of $56.58.

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.