Connor Clark & Lunn Investment Management Ltd. Invests $8.35 Million in Dominion Energy, Inc. (NYSE:D)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Dominion Energy, Inc. (NYSE:D) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 155,011 shares of the utilities provider’s stock, valued at approximately $8,349,000.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its position in 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 purchasing an additional 1,365,555 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Dominion Energy by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after buying an additional 1,222,688 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Dominion Energy by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock worth $1,032,941,000 after buying an additional 367,193 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Dominion Energy by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock valued at $804,606,000 after acquiring an additional 1,068,996 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Dominion Energy by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock worth $496,358,000 after acquiring an additional 398,012 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley began coverage on Dominion Energy in a research report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 target price for the company. Scotiabank raised their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price 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. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.18.

Dominion Energy Trading Up 1.0 %

D opened at $54.64 on Friday. Dominion Energy, Inc. has a twelve month low of $46.56 and a twelve month high of $61.97. The company has a fifty day moving average of $55.12 and a 200-day moving average of $56.35. The stock has a market cap of $46.55 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last posted its quarterly earnings data 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%. On average, sell-side analysts predict that Dominion Energy, Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Friday, February 28th. Dominion Energy’s dividend payout ratio (DPR) is 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.