Chesapeake Wealth Management Grows Position in Dominion Energy, Inc. (NYSE:D)

Chesapeake Wealth Management lifted its position in Dominion Energy, Inc. (NYSE:D) by 12.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,498 shares of the utilities provider’s stock after buying an additional 612 shares during the quarter. Chesapeake Wealth Management’s holdings in Dominion Energy were worth $318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in Dominion Energy in the second quarter valued at approximately $27,000. Sanctuary Wealth Management L.L.C. bought a new position in Dominion Energy during the third quarter valued at approximately $28,000. LRI Investments LLC bought a new position in Dominion Energy during the first quarter valued at approximately $30,000. Frazier Financial Advisors LLC bought a new position in Dominion Energy during the third quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC bought a new position in Dominion Energy during the second quarter valued at approximately $33,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on D shares. Barclays increased their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group reiterated a “neutral” rating and set a $61.00 price target on shares of Dominion Energy in a research report on Friday, November 8th. BMO Capital Markets raised their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group assumed coverage on shares of Dominion Energy in a report on Friday, September 20th. They issued a “hold” rating and a $58.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.91.

Dominion Energy Stock Performance

Shares of Dominion Energy stock opened at $57.74 on Tuesday. 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 market capitalization of $48.50 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.53 and a beta of 0.59. The business has a fifty day simple moving average of $58.04 and a two-hundred day simple moving average of $54.67. Dominion Energy, Inc. has a 12 month low of $43.53 and a 12 month high of $61.97.

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

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.62%. Dominion Energy’s payout ratio is 93.68%.

About Dominion Energy

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.