Raymond James Financial Services Advisors Inc. lessened its stake in shares of Dominion Energy, Inc. (NYSE:D – Get Rating) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,721 shares of the utilities provider’s stock after selling 30,605 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.05% of Dominion Energy worth $25,088,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV increased its position in Dominion Energy by 1.2% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,630 shares of the utilities provider’s stock valued at $903,000 after buying an additional 128 shares in the last quarter. Golden State Equity Partners increased its holdings in shares of Dominion Energy by 1.7% in the 1st quarter. Golden State Equity Partners now owns 7,635 shares of the utilities provider’s stock worth $649,000 after purchasing an additional 129 shares in the last quarter. Covestor Ltd increased its holdings in shares of Dominion Energy by 49.8% in the 1st quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 131 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Dominion Energy by 0.3% in the 1st quarter. NewEdge Advisors LLC now owns 40,479 shares of the utilities provider’s stock worth $3,440,000 after purchasing an additional 132 shares in the last quarter. Finally, Ergoteles LLC increased its holdings in shares of Dominion Energy by 3.2% in the 1st quarter. Ergoteles LLC now owns 4,719 shares of the utilities provider’s stock worth $401,000 after purchasing an additional 146 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.
Insider Activity
In other news, COO Diane Leopold sold 6,250 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $49.16, for a total value of $307,250.00. Following the transaction, the chief operating officer now directly owns 100,115 shares in the company, valued at $4,921,653.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.
Dominion Energy Price Performance
Dominion Energy (NYSE:D – Get Rating) last announced its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Dominion Energy had a return on equity of 12.67% and a net margin of 7.05%. The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the business earned $1.18 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. Sell-side analysts predict that Dominion Energy, Inc. will post 3.74 earnings per share for the current year.
Dominion Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Friday, June 2nd were given a $0.6675 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $2.67 annualized dividend and a dividend yield of 5.08%. Dominion Energy’s payout ratio is 186.71%.
Wall Street Analyst Weigh In
A number of research firms have commented on D. Morgan Stanley lifted their target price on Dominion Energy from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 20th. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 20th. JPMorgan Chase & Co. dropped their price target on Dominion Energy from $63.00 to $55.00 in a research note on Friday, June 9th. Bank of America dropped their price target on Dominion Energy from $54.00 to $52.00 in a research note on Tuesday, May 16th. Finally, UBS Group dropped their price target on Dominion Energy from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Dominion Energy presently has an average rating of “Hold” and a consensus price target of $62.55.
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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