Cornercap Investment Counsel Inc. Makes New $771,000 Investment in Dominion Energy, Inc. (NYSE:D)

Cornercap Investment Counsel Inc. acquired a new stake in Dominion Energy, Inc. (NYSE:D) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 14,309 shares of the utilities provider’s stock, valued at approximately $771,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Dominion Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider’s stock valued at $4,821,222,000 after buying an additional 674,859 shares during the last quarter. State Street Corp boosted its position in shares of Dominion Energy by 3.2% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Dominion Energy by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock valued at $1,653,964,000 after acquiring an additional 1,222,688 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Dominion Energy by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock worth $1,032,941,000 after acquiring an additional 367,193 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Dominion Energy by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock worth $804,606,000 after purchasing an additional 1,068,996 shares during the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on D. Morgan Stanley boosted their price objective on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. UBS Group upped their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Argus upgraded Dominion Energy to a “hold” rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. upped their target price on Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Finally, 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 research report on Thursday, December 12th. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $57.58.

Dominion Energy Stock Performance

Shares of D stock opened at $54.98 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 12-month low of $46.62 and a 12-month high of $61.97. The company has a market cap of $46.85 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. The stock has a 50 day simple moving average of $55.17 and a 200-day simple moving average of $56.18.

Dominion Energy (NYSE:D) last released its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. On average, equities analysts forecast that Dominion Energy, Inc. will post 3.39 EPS 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 given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.86%. Dominion Energy’s payout ratio 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.