Atlantic Union Bankshares Corp lowered its position in shares of Dominion Energy, Inc. (NYSE:D – Free Report) by 76.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,057 shares of the utilities provider’s stock after selling 91,724 shares during the period. Atlantic Union Bankshares Corp’s holdings in Dominion Energy were worth $1,453,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in D. Tucker Asset Management LLC purchased a new position in Dominion Energy in the first quarter valued at about $25,000. Pacific Center for Financial Services purchased a new stake in shares of Dominion Energy during the first quarter worth about $28,000. AXS Investments LLC purchased a new stake in shares of Dominion Energy during the fourth quarter worth about $30,000. Core Alternative Capital grew its stake in shares of Dominion Energy by 63.0% during the first quarter. Core Alternative Capital now owns 533 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 206 shares during the last quarter. Finally, Carderock Capital Management Inc. purchased a new stake in shares of Dominion Energy during the first quarter worth about $34,000. Hedge funds and other institutional investors own 70.66% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on D. Scotiabank decreased their price target on Dominion Energy from $68.00 to $60.00 and set a “sector outperform” rating for the company in a report on Monday, September 11th. BMO Capital Markets decreased their price target on Dominion Energy from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, September 6th. Guggenheim decreased their price target on Dominion Energy from $63.00 to $60.00 in a report on Friday, July 7th. Wells Fargo & Company cut their price objective on Dominion Energy from $61.00 to $55.00 in a research report on Monday, July 3rd. Finally, Barclays started coverage on Dominion Energy in a research report on Wednesday, August 23rd. They issued an “equal weight” rating and a $52.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.15.
Dominion Energy Stock Up 0.4 %
D stock opened at $48.65 on Tuesday. The company has a market cap of $40.70 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 3.71 and a beta of 0.46. The company has a current ratio of 0.57, a quick ratio of 0.44 and a debt-to-equity ratio of 1.47. Dominion Energy, Inc. has a 12 month low of $45.76 and a 12 month high of $81.31. The firm has a 50-day moving average of $49.95 and a two-hundred day moving average of $52.80.
Dominion Energy (NYSE:D – Get Free Report) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Dominion Energy had a net margin of 12.71% and a return on equity of 11.94%. Dominion Energy’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, analysts forecast that Dominion Energy, Inc. will post 3.26 earnings per share for the current fiscal year.
Dominion Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.6675 per share. The ex-dividend date is Thursday, August 31st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.49%. Dominion Energy’s dividend payout ratio is currently 98.89%.
About Dominion Energy
Dominion Energy, Inc produces and distributes energy in the United States. It operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.7 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
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