Kentucky Retirement Systems Reduces Holdings in Dominion Energy, Inc. (NYSE:D)

Kentucky Retirement Systems reduced its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,445 shares of the utilities provider’s stock after selling 4,720 shares during the period. Kentucky Retirement Systems’ holdings in Dominion Energy were worth $3,378,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in D. Empowered Funds LLC lifted its position in Dominion Energy by 27.0% during the first quarter. Empowered Funds LLC now owns 11,313 shares of the utilities provider’s stock valued at $556,000 after purchasing an additional 2,406 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Dominion Energy in the first quarter worth about $272,000. Intech Investment Management LLC purchased a new position in shares of Dominion Energy during the 1st quarter valued at about $708,000. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 12,178,713 shares during the period. Finally, TIAA Trust National Association increased its holdings in Dominion Energy by 8.3% in the 1st quarter. TIAA Trust National Association now owns 38,111 shares of the utilities provider’s stock worth $1,875,000 after acquiring an additional 2,924 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on D. Barclays lifted their price target on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price target on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Scotiabank raised their price target on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price objective 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. Finally, Jefferies Financial Group initiated coverage on Dominion Energy in a research note on Friday, September 20th. They set a “hold” rating and a $58.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.91.

Dominion Energy Stock Up 2.6 %

Shares of D opened at $57.63 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The stock has a market capitalization of $48.41 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 1.53 and a beta of 0.59. Dominion Energy, Inc. has a 1 year low of $43.53 and a 1 year high of $61.97. The business’s 50 day simple moving average is $58.03 and its 200-day simple moving average is $54.60.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Dominion Energy’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts expect that Dominion Energy, Inc. will post 2.76 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.6675 per share. The ex-dividend date is Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.63%. Dominion Energy’s payout ratio is currently 93.68%.

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.