Sumitomo Life Insurance Co. Has $626,000 Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Sumitomo Life Insurance Co. reduced its stake in Dominion Energy, Inc. (NYSE:D) by 3.5% during the 4th quarter, Holdings Channel reports. The fund owned 11,617 shares of the utilities provider’s stock after selling 425 shares during the period. Sumitomo Life Insurance Co.’s holdings in Dominion Energy were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Dominion Energy during the fourth quarter worth approximately $275,000. SteelPeak Wealth LLC grew its holdings in Dominion Energy by 10.4% in the 4th quarter. SteelPeak Wealth LLC now owns 17,039 shares of the utilities provider’s stock valued at $918,000 after buying an additional 1,599 shares in the last quarter. Stonegate Investment Group LLC increased its position in Dominion Energy by 1.6% during the 4th quarter. Stonegate Investment Group LLC now owns 15,321 shares of the utilities provider’s stock worth $825,000 after buying an additional 243 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Dominion Energy by 59.2% during the fourth quarter. Perigon Wealth Management LLC now owns 6,176 shares of the utilities provider’s stock worth $340,000 after buying an additional 2,296 shares in the last quarter. Finally, Jeppson Wealth Management LLC boosted its position in shares of Dominion Energy by 2.9% in the fourth quarter. Jeppson Wealth Management LLC now owns 12,826 shares of the utilities provider’s stock valued at $691,000 after acquiring an additional 359 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Up 1.2 %

D stock opened at $55.78 on Friday. The stock has a market capitalization of $46.86 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.15 and a beta of 0.60. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $55.06 and a 200-day moving average price of $56.03. Dominion Energy, Inc. has a 12 month low of $43.53 and a 12 month high of $61.97.

Dominion Energy (NYSE:D) last issued its earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. As a group, equities research analysts anticipate that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a yield of 4.79%. Dominion Energy’s dividend payout ratio is currently 93.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on D shares. Morgan Stanley initiated coverage on shares of Dominion Energy in a research report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price target on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research report on Friday, November 8th. Barclays increased their price target on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Scotiabank lifted their price objective on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.58.

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.