Lockheed Martin Investment Management Co. Sells 5,400 Shares of Dominion Energy, Inc. (NYSE:D)

Lockheed Martin Investment Management Co. trimmed its position in Dominion Energy, Inc. (NYSE:D) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,600 shares of the utilities provider’s stock after selling 5,400 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Dominion Energy were worth $2,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Dominion Energy in the third quarter valued at $459,000. Lincoln National Corp lifted its stake in shares of Dominion Energy by 4.9% in the 3rd quarter. Lincoln National Corp now owns 10,158 shares of the utilities provider’s stock valued at $454,000 after purchasing an additional 476 shares during the period. Victory Capital Management Inc. boosted its stake in Dominion Energy by 4.6% during the third quarter. Victory Capital Management Inc. now owns 605,491 shares of the utilities provider’s stock worth $27,047,000 after acquiring an additional 26,390 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Dominion Energy by 277.8% during the third quarter. Los Angeles Capital Management LLC now owns 17,435 shares of the utilities provider’s stock valued at $779,000 after purchasing an additional 12,820 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Dominion Energy by 56.3% during the third quarter. Assenagon Asset Management S.A. now owns 132,590 shares of the utilities provider’s stock valued at $5,923,000 after buying an additional 47,765 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Price Performance

Shares of D traded up $0.10 during mid-day trading on Tuesday, hitting $52.89. 4,440,801 shares of the stock were exchanged, compared to its average volume of 5,028,126. The company has a market cap of $44.30 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.41 and a beta of 0.59. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $54.74. The firm has a 50-day moving average of $50.45 and a two-hundred day moving average of $48.01. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.94 and a current ratio of 1.05.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $4.34 billion. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. On average, equities analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Friday, May 31st. Dominion Energy’s dividend payout ratio is 137.63%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on D. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. BMO Capital Markets lifted their price objective on Dominion Energy from $51.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday, May 6th. Evercore ISI lifted their price objective on Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Scotiabank reduced their price objective on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Mizuho lifted their price objective on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.73.

Insiders Place Their Bets

In related news, CEO Robert M. Blue acquired 21,735 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the purchase, the chief executive officer now directly owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph M. Rigby acquired 2,130 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert M. Blue bought 21,735 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the acquisition, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

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.