Montecito Bank & Trust Buys New Stake in Dominion Energy Inc (D)

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Montecito Bank & Trust bought a new stake in shares of Dominion Energy Inc (NYSE:D) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 5,268 shares of the utilities provider’s stock, valued at approximately $376,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in Dominion Energy by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 49,883,013 shares of the utilities provider’s stock valued at $3,505,778,000 after purchasing an additional 825,191 shares in the last quarter. BlackRock Inc. increased its stake in Dominion Energy by 0.8% during the 3rd quarter. BlackRock Inc. now owns 46,177,530 shares of the utilities provider’s stock valued at $3,245,357,000 after purchasing an additional 345,036 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Dominion Energy by 29.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,146,819 shares of the utilities provider’s stock valued at $431,998,000 after purchasing an additional 1,413,097 shares in the last quarter. Deutsche Bank AG increased its stake in Dominion Energy by 10.7% during the 3rd quarter. Deutsche Bank AG now owns 5,298,868 shares of the utilities provider’s stock valued at $372,399,000 after purchasing an additional 511,844 shares in the last quarter. Finally, FMR LLC increased its stake in Dominion Energy by 8.2% during the 3rd quarter. FMR LLC now owns 4,189,492 shares of the utilities provider’s stock valued at $294,438,000 after purchasing an additional 319,075 shares in the last quarter. Institutional investors own 67.97% of the company’s stock.

Shares of NYSE:D opened at $72.81 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $47.99 billion, a P/E ratio of 17.98, a P/E/G ratio of 2.87 and a beta of 0.21. Dominion Energy Inc has a fifty-two week low of $61.53 and a fifty-two week high of $77.19.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, February 1st. The utilities provider reported $0.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Dominion Energy had a return on equity of 13.15% and a net margin of 18.31%. Dominion Energy’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. On average, analysts expect that Dominion Energy Inc will post 4.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Friday, March 1st will be issued a $0.9175 dividend. This is an increase from Dominion Energy’s previous quarterly dividend of $0.84. This represents a $3.67 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Thursday, February 28th. Dominion Energy’s payout ratio is 82.47%.

Several analysts have recently issued reports on the stock. Macquarie set a $78.00 target price on shares of Dominion Energy and gave the stock a “buy” rating in a research note on Monday, January 14th. ValuEngine upgraded shares of Dominion Energy from a “hold” rating to a “buy” rating in a research note on Saturday, December 15th. UBS Group upgraded shares of Dominion Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $75.00 to $84.00 in a research note on Thursday, November 29th. Barclays set a $79.00 target price on shares of Dominion Energy and gave the stock a “buy” rating in a research note on Saturday, November 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Dominion Energy from $78.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Dominion Energy currently has an average rating of “Hold” and a consensus price target of $85.55.

In related news, CFO James R. Chapman purchased 4,053 shares of the business’s stock in a transaction that occurred on Wednesday, December 19th. The shares were bought at an average cost of $74.02 per share, with a total value of $300,003.06. Following the acquisition, the chief financial officer now owns 22,256 shares of the company’s stock, valued at $1,647,389.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Diane Leopold sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $71.31, for a total transaction of $178,275.00. Following the completion of the transaction, the chief executive officer now directly owns 48,677 shares in the company, valued at $3,471,156.87. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

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Dominion Energy Profile

Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.

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Institutional Ownership by Quarter for Dominion Energy (NYSE:D)

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