Royal London Asset Management Ltd. reduced its stake in shares of Dominion Energy Inc (NYSE:D) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 308,666 shares of the utilities provider’s stock after selling 3,543 shares during the period. Royal London Asset Management Ltd.’s holdings in Dominion Energy were worth $23,858,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Cypress Wealth Services LLC grew its holdings in Dominion Energy by 17.3% during the 2nd quarter. Cypress Wealth Services LLC now owns 6,062 shares of the utilities provider’s stock worth $469,000 after acquiring an additional 896 shares during the period. Principal Financial Group Inc. grew its holdings in Dominion Energy by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,130,434 shares of the utilities provider’s stock worth $86,659,000 after acquiring an additional 56,839 shares during the period. Comerica Bank grew its holdings in Dominion Energy by 28.8% during the 1st quarter. Comerica Bank now owns 237,292 shares of the utilities provider’s stock worth $17,994,000 after acquiring an additional 53,038 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Dominion Energy by 17.1% during the 1st quarter. CIBC Private Wealth Group LLC now owns 24,354 shares of the utilities provider’s stock worth $1,867,000 after acquiring an additional 3,550 shares during the period. Finally, ZWJ Investment Counsel Inc. grew its holdings in Dominion Energy by 20.9% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 5,033 shares of the utilities provider’s stock worth $386,000 after acquiring an additional 869 shares during the period. 63.99% of the stock is owned by institutional investors and hedge funds.
D has been the subject of several research reports. ValuEngine downgraded Dominion Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. TheStreet downgraded Dominion Energy from a “b” rating to a “c+” rating in a research note on Friday, May 3rd. KeyCorp initiated coverage on Dominion Energy in a research note on Tuesday, June 4th. They issued a “sector weight” rating for the company. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $79.00 to $80.00 in a research note on Thursday, June 13th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Dominion Energy from a “hold” rating to a “sell” rating and set a $83.00 target price for the company. in a research note on Thursday, July 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $79.08.
D stock traded up $0.74 during mid-day trading on Tuesday, reaching $75.11. 68,559 shares of the company traded hands, compared to its average volume of 4,037,354. The firm has a market cap of $59.93 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 3.74 and a beta of 0.25. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 1.38. Dominion Energy Inc has a fifty-two week low of $67.41 and a fifty-two week high of $79.47. The company has a 50 day simple moving average of $76.55.
Dominion Energy (NYSE:D) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.21 billion. Dominion Energy had a return on equity of 11.74% and a net margin of 5.94%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. On average, equities analysts predict that Dominion Energy Inc will post 4.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.9175 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.67 dividend on an annualized basis and a yield of 4.89%. Dominion Energy’s dividend payout ratio (DPR) is currently 90.62%.
Dominion Energy Company Profile
Dominion Energy, Inc produces and transports energy. 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.
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