Commerce Bank Boosts Holdings in Dominion Energy, Inc. (NYSE:D)

Commerce Bank grew its holdings in Dominion Energy, Inc. (NYSE:D) by 132.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 136,499 shares of the utilities provider’s stock after purchasing an additional 77,717 shares during the quarter. Commerce Bank’s holdings in Dominion Energy were worth $6,415,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Dominion Energy by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after acquiring an additional 1,928,823 shares in the last quarter. Wellington Management Group LLP raised its holdings in Dominion Energy by 631.2% in the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after acquiring an additional 14,105,237 shares in the last quarter. Northern Trust Corp raised its holdings in Dominion Energy by 2.7% in the third quarter. Northern Trust Corp now owns 8,527,408 shares of the utilities provider’s stock valued at $380,919,000 after acquiring an additional 220,238 shares in the last quarter. Federated Hermes Inc. raised its holdings in Dominion Energy by 1.0% in the fourth quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock valued at $357,769,000 after acquiring an additional 75,600 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after acquiring an additional 803,341 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on D. BMO Capital Markets raised their target price on shares of Dominion Energy from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Monday, May 6th. Mizuho raised their price objective on shares of Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Evercore ISI raised their price objective on shares of Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Finally, Scotiabank cut their price objective on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and an average target price of $51.73.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $52.79 on Friday. The firm’s fifty day simple moving average is $50.36 and its 200-day simple moving average is $47.94. The stock has a market capitalization of $44.22 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.41 and a beta of 0.59. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $54.74. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. As a group, equities analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be given a $0.6675 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.67 dividend on an annualized basis and a yield of 5.06%. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Insider Activity at Dominion Energy

In other news, Director Joseph M. Rigby acquired 2,130 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the transaction, the director now directly owns 8,417 shares in the company, valued at approximately $395,093.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Robert M. Blue bought 21,735 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the transaction, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph M. Rigby purchased 2,130 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $46.94 per share, with a total value of $99,982.20. Following the purchase, the director now directly owns 8,417 shares in the company, valued at $395,093.98. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by insiders.

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.