Hennessy Advisors Inc. Trims Stock Position in Dominion Energy, Inc. (NYSE:D)

Hennessy Advisors Inc. cut its holdings in Dominion Energy, Inc. (NYSE:D) by 77.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,277 shares of the utilities provider’s stock after selling 234,700 shares during the quarter. Hennessy Advisors Inc.’s holdings in Dominion Energy were worth $3,297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of D. Arlington Capital Management Inc. grew its holdings in shares of Dominion Energy by 1.2% in the first quarter. Arlington Capital Management Inc. now owns 16,476 shares of the utilities provider’s stock valued at $810,000 after purchasing an additional 197 shares in the last quarter. Valley National Advisers Inc. lifted its position in Dominion Energy by 8.6% in the second quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock worth $122,000 after buying an additional 198 shares during the last quarter. Centennial Wealth Advisory LLC lifted its position in Dominion Energy by 2.8% in the second quarter. Centennial Wealth Advisory LLC now owns 7,381 shares of the utilities provider’s stock worth $362,000 after buying an additional 199 shares during the last quarter. Ridgewood Investments LLC lifted its position in Dominion Energy by 0.9% in the first quarter. Ridgewood Investments LLC now owns 24,536 shares of the utilities provider’s stock worth $1,207,000 after buying an additional 210 shares during the last quarter. Finally, Lantz Financial LLC lifted its position in shares of Dominion Energy by 4.0% during the first quarter. Lantz Financial LLC now owns 5,823 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 222 shares during the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of NYSE D opened at $56.46 on Friday. The stock has a market capitalization of $47.29 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. Dominion Energy, Inc. has a 52 week low of $39.18 and a 52 week high of $57.60. The firm has a 50-day simple moving average of $52.06 and a 200-day simple moving average of $50.30. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating 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 firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Friday, August 30th. Dominion Energy’s dividend payout ratio is presently 137.63%.

Analyst Ratings Changes

Several equities analysts have issued reports on D shares. Evercore ISI lifted their target price on Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Mizuho lifted their target price on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Finally, BMO Capital Markets boosted their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.64.

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.