Tidal Investments LLC Has $3.87 Million Stock Position in Dominion Energy, Inc. (NYSE:D)

Tidal Investments LLC increased its stake in Dominion Energy, Inc. (NYSE:D) by 87.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,816 shares of the utilities provider’s stock after acquiring an additional 33,477 shares during the quarter. Tidal Investments LLC’s holdings in Dominion Energy were worth $3,868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 worth $4,821,222,000 after purchasing an additional 674,859 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Dominion Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock worth $1,667,540,000 after purchasing an additional 1,459,926 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 1,222,688 shares in the last quarter. Geode Capital Management LLC increased its holdings in Dominion Energy by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider’s stock worth $997,034,000 after purchasing an additional 601,900 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Dominion Energy by 7.7% in 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 in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on D shares. Argus upgraded Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. UBS Group lifted their target price on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Morgan Stanley boosted their price objective on Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $52.00 price objective (down previously from $59.00) on shares of Dominion Energy in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Dominion Energy currently has an average rating of “Hold” and a consensus price target of $58.75.

Dominion Energy Stock Up 3.1%

Shares of NYSE:D opened at $57.93 on Wednesday. The stock has a market cap of $49.40 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.22 and a beta of 0.57. 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, Inc. has a 12-month low of $47.99 and a 12-month high of $61.97. The business’s 50 day moving average is $54.04 and its 200 day moving average is $55.03.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. Dominion Energy’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, sell-side analysts forecast that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.61%. Dominion Energy’s payout ratio is 100.00%.

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.