Dominion Energy, Inc. (NYSE:D) Position Decreased by SVB Wealth LLC

SVB Wealth LLC reduced its holdings in Dominion Energy, Inc. (NYSE:D) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,383 shares of the utilities provider’s stock after selling 325 shares during the quarter. SVB Wealth LLC’s holdings in Dominion Energy were worth $412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in D. Energy Income Partners LLC purchased a new stake in Dominion Energy in the 1st quarter worth approximately $8,713,000. Manhattan West Asset Management LLC grew its stake in Dominion Energy by 13.0% in the first quarter. Manhattan West Asset Management LLC now owns 71,010 shares of the utilities provider’s stock valued at $3,493,000 after purchasing an additional 8,175 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Dominion Energy by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after purchasing an additional 2,801,687 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Dominion Energy by 1,232.8% during the 1st quarter. Lazard Asset Management LLC now owns 18,179 shares of the utilities provider’s stock worth $893,000 after purchasing an additional 16,815 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Dominion Energy in the 1st quarter valued at approximately $32,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

Shares of D stock traded down $0.20 during trading hours on Tuesday, reaching $52.71. 414,405 shares of the company’s stock were exchanged, compared to its average volume of 4,625,322. The business has a fifty day moving average price of $51.14 and a 200-day moving average price of $49.18. The stock has a market capitalization of $44.15 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.41 and a beta of 0.59. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. Dominion Energy, Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $54.23.

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

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 5.07%. The ex-dividend date was Friday, May 31st. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

Wall Street Analyst Weigh In

Several analysts have commented on D shares. StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. BMO Capital Markets lowered their target price on shares of Dominion Energy from $52.00 to $51.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Barclays cut their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Mizuho upped their price target on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company raised their price objective on Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.64.

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.