Covenant Asset Management LLC decreased its position in shares of Dominion Energy Inc (NYSE:D) by 8.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,042 shares of the utilities provider’s stock after selling 285 shares during the period. Covenant Asset Management LLC’s holdings in Dominion Energy were worth $233,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of D. JPMorgan Chase & Co. lifted its holdings in shares of Dominion Energy by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 605,578 shares of the utilities provider’s stock valued at $42,560,000 after acquiring an additional 11,178 shares during the period. Teachers Advisors LLC increased its position in Dominion Energy by 0.8% in the third quarter. Teachers Advisors LLC now owns 1,227,543 shares of the utilities provider’s stock worth $86,272,000 after purchasing an additional 9,279 shares during the period. Nordea Investment Management AB increased its position in Dominion Energy by 4.4% in the third quarter. Nordea Investment Management AB now owns 35,647 shares of the utilities provider’s stock worth $2,506,000 after purchasing an additional 1,498 shares during the period. Standard Life Aberdeen plc increased its position in Dominion Energy by 7.1% in the third quarter. Standard Life Aberdeen plc now owns 293,746 shares of the utilities provider’s stock worth $20,646,000 after purchasing an additional 19,427 shares during the period. Finally, Morgan Stanley grew its position in shares of Dominion Energy by 46.1% during the 3rd quarter. Morgan Stanley now owns 3,759,391 shares of the utilities provider’s stock worth $264,209,000 after buying an additional 1,185,720 shares during the period. Hedge funds and other institutional investors own 62.35% of the company’s stock.
D has been the topic of several recent analyst reports. TheStreet cut Dominion Energy from a “b” rating to a “c+” rating in a report on Friday, May 3rd. Macquarie lowered Dominion Energy from an “outperform” rating to a “neutral” rating in a research report on Monday, March 18th. They noted that the move was a valuation call. Zacks Investment Research raised Dominion Energy from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Monday, April 8th. Credit Suisse Group assumed coverage on Dominion Energy in a research report on Friday, April 12th. They set a “neutral” rating and a $78.00 target price for the company. Finally, Argus restated a “buy” rating on shares of Dominion Energy in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Dominion Energy presently has a consensus rating of “Hold” and an average target price of $85.00.
NYSE:D traded down $0.33 during trading hours on Friday, reaching $77.72. The stock had a trading volume of 2,020,782 shares, compared to its average volume of 4,289,999. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.61 and a quick ratio of 0.44. Dominion Energy Inc has a 12-month low of $61.53 and a 12-month high of $78.14. The company has a market capitalization of $62.05 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.76 and a beta of 0.23.
Dominion Energy (NYSE:D) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.02). Dominion Energy had a net margin of 9.19% and a return on equity of 12.35%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Dominion Energy’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts anticipate that Dominion Energy Inc will post 4.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a $0.9175 dividend. This represents a $3.67 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Thursday, June 6th. Dominion Energy’s dividend payout ratio (DPR) is presently 90.62%.
In related news, Director Robert H. Spilman, Jr. sold 1,215 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.01, for a total value of $92,352.15. Following the transaction, the director now directly owns 23,598 shares of the company’s stock, valued at approximately $1,793,683.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director D Maybank Hagood acquired 1,965 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average cost of $76.34 per share, for a total transaction of $150,008.10. Following the completion of the transaction, the director now directly owns 2,975 shares in the company, valued at approximately $227,111.50. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.
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About Dominion Energy
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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