Beverly Hills Private Wealth LLC Trims Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Beverly Hills Private Wealth LLC cut its stake in shares of Dominion Energy, Inc. (NYSE:D) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,459 shares of the utilities provider’s stock after selling 842 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Dominion Energy were worth $1,590,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Dominion Energy by 16.0% during the 1st quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after purchasing an additional 12,178,713 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Dominion Energy by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock valued at $1,204,904,000 after acquiring an additional 2,801,687 shares in the last quarter. Capital Research Global Investors lifted its stake in Dominion Energy by 20.1% in the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock worth $1,061,740,000 after purchasing an additional 3,613,614 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Dominion Energy by 13.2% during the fourth quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock valued at $869,184,000 after purchasing an additional 2,153,488 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Dominion Energy by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock worth $734,007,000 after purchasing an additional 940,402 shares during the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on D shares. Scotiabank upped their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.00.

Dominion Energy Trading Down 0.8 %

D opened at $57.23 on Thursday. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $58.13. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The stock has a market cap of $48.01 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 1.53 and a beta of 0.60. The stock’s 50 day moving average price is $54.13 and its 200-day moving average price is $51.45.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Friday, August 30th. Dominion Energy’s payout ratio is 137.63%.

Dominion Energy Profile

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.