Resources Investment Advisors LLC. cut its position in Dominion Energy, Inc. (NYSE:D) by 18.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,367 shares of the utilities provider’s stock after selling 749 shares during the quarter. Resources Investment Advisors LLC.’s holdings in Dominion Energy were worth $248,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Dominion Energy by 11.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 149,080 shares of the utilities provider’s stock valued at $10,968,000 after acquiring an additional 15,214 shares during the last quarter. Budros Ruhlin & Roe Inc. boosted its stake in Dominion Energy by 0.9% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 21,741 shares of the utilities provider’s stock valued at $1,599,000 after acquiring an additional 199 shares during the last quarter. Laurel Wealth Planning LLC bought a new position in Dominion Energy during the 2nd quarter valued at $29,000. Providence Capital Advisors LLC boosted its stake in Dominion Energy by 4.3% during the 2nd quarter. Providence Capital Advisors LLC now owns 26,787 shares of the utilities provider’s stock valued at $1,971,000 after acquiring an additional 1,116 shares during the last quarter. Finally, Vectors Research Management LLC boosted its stake in Dominion Energy by 10.2% during the 2nd quarter. Vectors Research Management LLC now owns 31,271 shares of the utilities provider’s stock valued at $2,301,000 after acquiring an additional 2,890 shares during the last quarter. Institutional investors and hedge funds own 66.10% of the company’s stock.
A number of research analysts have commented on the stock. TheStreet downgraded shares of Dominion Energy from a “b” rating to a “c+” rating in a research note on Friday, August 6th. Morgan Stanley assumed coverage on shares of Dominion Energy in a research report on Tuesday, August 31st. They issued an “equal weight” rating and a $82.00 price target on the stock. KeyCorp raised their price target on shares of Dominion Energy from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 20th. Scotiabank upgraded shares of Dominion Energy from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $88.00 to $92.00 in a research report on Tuesday, July 6th. They noted that the move was a valuation call. Finally, Mizuho reduced their price target on shares of Dominion Energy from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $84.09.
Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, August 5th. The utilities provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.01). Dominion Energy had a return on equity of 12.47% and a net margin of 16.61%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period last year, the business earned $0.73 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. Equities analysts forecast that Dominion Energy, Inc. will post 3.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 20th. Shareholders of record on Friday, September 3rd will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $2.52 annualized dividend and a yield of 3.31%. Dominion Energy’s payout ratio is 71.19%.
About Dominion Energy
Dominion Energy, Inc engages in the provision of electricity and natural gas to homes, businesses, and wholesale customers. Its operations also include a regulated interstate natural gas transmission pipeline and underground storage system. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets and Corporate and Other.
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