Forum Financial Management LP trimmed its stake in Dominion Energy, Inc. (NYSE:D – Get Rating) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,783 shares of the utilities provider’s stock after selling 181 shares during the quarter. Forum Financial Management LP’s holdings in Dominion Energy were worth $293,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in D. Sei Investments Co. raised its holdings in shares of Dominion Energy by 7.7% in the first quarter. Sei Investments Co. now owns 168,723 shares of the utilities provider’s stock worth $14,325,000 after acquiring an additional 12,002 shares during the last quarter. Prudential PLC acquired a new position in shares of Dominion Energy in the first quarter worth $1,528,000. Sequoia Financial Advisors LLC raised its holdings in shares of Dominion Energy by 30.0% in the first quarter. Sequoia Financial Advisors LLC now owns 7,195 shares of the utilities provider’s stock worth $611,000 after acquiring an additional 1,661 shares during the last quarter. Covestor Ltd raised its holdings in shares of Dominion Energy by 49.8% in the first quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 131 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in Dominion Energy in the first quarter valued at $419,000. 70.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently commented on D. StockNews.com began coverage on Dominion Energy in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Guggenheim dropped their target price on Dominion Energy from $69.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, February 28th. BMO Capital Markets dropped their target price on Dominion Energy from $66.00 to $61.00 and set an “outperform” rating for the company in a research note on Monday, February 27th. Credit Suisse Group dropped their target price on Dominion Energy from $67.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, February 14th. Finally, Morgan Stanley dropped their target price on Dominion Energy from $63.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and a consensus price target of $66.08.
Dominion Energy Price Performance
Dominion Energy (NYSE:D – Get Rating) last issued its earnings results on Wednesday, February 8th. The utilities provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. Dominion Energy had a return on equity of 13.35% and a net margin of 5.79%. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s revenue was up 26.6% compared to the same quarter last year. On average, equities analysts anticipate that Dominion Energy, Inc. will post 3.93 EPS for the current fiscal year.
Dominion Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 20th. Stockholders of record on Friday, March 3rd were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Thursday, March 2nd. Dominion Energy’s payout ratio is 244.95%.
About Dominion Energy
Dominion Energy, Inc engages in the production and distribution of energy. It operates through following business segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, Contracted Assets, and Corporate and Other. The Corporate and Other segment focuses on corporate, service company, non-controlling interest in Dominion privatization, and non-regulated retail energy marketing operations.
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