Vestcor Inc Lowers Position in Dominion Energy Inc. (NYSE:D)

by · The Markets Daily

Vestcor Inc cut its stake in shares of Dominion Energy Inc. (NYSE:D – Free Report) by 12.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 34,261 shares of the utilities provider’s stock after selling 4,822 shares during the quarter. Vestcor Inc’s holdings in Dominion Energy were worth $1,921,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of D. Kayne Anderson Rudnick Investment Management LLC lifted its position in Dominion Energy by 450.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 378 shares in the last quarter. Orion Capital Management LLC bought a new stake in Dominion Energy during the fourth quarter valued at about $27,000. Park Square Financial Group LLC bought a new stake in Dominion Energy during the fourth quarter valued at about $27,000. VSM Wealth Advisory LLC bought a new stake in Dominion Energy during the first quarter valued at about $28,000. Finally, Navigoe LLC bought a new stake in Dominion Energy during the fourth quarter valued at about $29,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on D shares. JPMorgan Chase & Co. raised their price target on Dominion Energy from $53.00 to $56.00 and gave the company an “underweight” rating in a report on Tuesday, July 15th. Morgan Stanley decreased their price target on Dominion Energy from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.88.

View Our Latest Analysis on D

Dominion Energy Trading Up 0.4%

Shares of D stock opened at $58.47 on Friday. Dominion Energy Inc. has a 12-month low of $48.07 and a 12-month high of $61.97. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock’s 50-day moving average price is $56.61 and its 200-day moving average price is $55.33. The stock has a market capitalization of $49.86 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 1.26 and a beta of 0.56.

Dominion Energy (NYSE:D – Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts predict that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.6%. Dominion Energy’s dividend payout ratio (DPR) is 100.00%.

Dominion Energy Company Profile

(Free Report)

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.

Further Reading

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