LRI Investments LLC Increases Stock Holdings in Dominion Energy, Inc. (NYSE:D)

LRI Investments LLC lifted its position in Dominion Energy, Inc. (NYSE:D) by 1,062.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,113 shares of the utilities provider’s stock after purchasing an additional 6,501 shares during the quarter. LRI Investments LLC’s holdings in Dominion Energy were worth $349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Dominion Energy by 16.0% during the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after buying an additional 12,178,713 shares during the period. Capital Research Global Investors boosted its stake in Dominion Energy by 136.5% during the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after buying an additional 10,370,768 shares during the period. Norges Bank purchased a new position in Dominion Energy during the fourth quarter worth about $329,792,000. ClearBridge Investments Ltd acquired a new stake in shares of Dominion Energy in the fourth quarter valued at $214,220,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Dominion Energy by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock valued at $1,204,904,000 after buying an additional 2,801,687 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Performance

NYSE:D opened at $56.47 on Friday. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $57.60. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. The firm has a market capitalization of $47.37 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58. The business’s fifty day moving average price is $52.18 and its 200 day moving average price is $50.42.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. On average, sell-side analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, August 30th. This represents a $2.67 annualized dividend and a dividend yield of 4.73%. Dominion Energy’s dividend payout ratio is presently 137.63%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Evercore ISI upped their target price on shares of Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Mizuho boosted their price target on shares of Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company upped their price objective on Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.00.

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.