Norges Bank Buys Shares of 8,788,608 Dominion Energy, Inc. (NYSE:D)

Norges Bank purchased a new position in Dominion Energy, Inc. (NYSE:D) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,788,608 shares of the utilities provider’s stock, valued at approximately $473,354,000. Norges Bank owned about 1.05% of Dominion Energy at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Howard Capital Management Group LLC acquired a new position in shares of Dominion Energy during the 3rd quarter worth approximately $210,000. Larson Financial Group LLC lifted its position in Dominion Energy by 282.4% during the third quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock worth $35,000 after buying an additional 449 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Dominion Energy by 1.6% in the 3rd quarter. D.A. Davidson & CO. now owns 55,626 shares of the utilities provider’s stock valued at $3,215,000 after buying an additional 898 shares in the last quarter. FMR LLC increased its stake in shares of Dominion Energy by 20.5% in the 3rd quarter. FMR LLC now owns 3,800,024 shares of the utilities provider’s stock worth $219,603,000 after acquiring an additional 647,725 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Dominion Energy by 0.8% during the 3rd quarter. Quantbot Technologies LP now owns 34,072 shares of the utilities provider’s stock worth $1,969,000 after acquiring an additional 283 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dominion Energy Price Performance

D stock opened at $54.98 on Friday. The stock has a market cap of $46.85 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.22 and a beta of 0.59. Dominion Energy, Inc. has a fifty-two week low of $46.62 and a fifty-two week high of $61.97. 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 business has a 50 day moving average price of $55.17 and a 200 day moving average price of $56.19.

Dominion Energy (NYSE:D) last issued its 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%. Equities research analysts anticipate that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Friday, February 28th. Dominion Energy’s dividend payout ratio (DPR) is 98.89%.

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.