Donaldson Capital Management LLC Cuts Position in Dominion Energy, Inc. (NYSE:D)

Donaldson Capital Management LLC lessened its stake in Dominion Energy, Inc. (NYSE:D) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,048 shares of the utilities provider’s stock after selling 1,526 shares during the quarter. Donaldson Capital Management LLC’s holdings in Dominion Energy were worth $613,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Diamond Hill Capital Management Inc. raised its holdings in shares of Dominion Energy by 5.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock worth $178,176,000 after purchasing an additional 199,629 shares during the period. Assenagon Asset Management S.A. raised its holdings in Dominion Energy by 196.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock valued at $18,451,000 after acquiring an additional 259,978 shares during the period. CWM LLC raised its holdings in Dominion Energy by 18.7% during the 3rd quarter. CWM LLC now owns 553,557 shares of the utilities provider’s stock valued at $24,727,000 after acquiring an additional 87,280 shares during the period. Morgan Stanley raised its holdings in Dominion Energy by 12.8% during the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after acquiring an additional 803,341 shares during the period. Finally, Diversified Trust Co raised its holdings in Dominion Energy by 97.3% during the 4th quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock valued at $674,000 after acquiring an additional 7,071 shares during the period. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Price Performance

NYSE:D traded down $0.83 during midday trading on Tuesday, hitting $47.09. The company had a trading volume of 342,258 shares, compared to its average volume of 5,450,108. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $58.69. The stock’s fifty day moving average price is $47.30 and its 200-day moving average price is $45.96. The company has a market capitalization of $39.44 billion, a PE ratio of 20.57, a P/E/G ratio of 1.92 and a beta of 0.61. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the firm posted $1.06 earnings per share. The firm’s revenue was down 7.2% on a year-over-year basis. As a group, research analysts expect that Dominion Energy, Inc. will post 2.86 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were given a $0.6675 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.67 annualized dividend and a yield of 5.67%. Dominion Energy’s dividend payout ratio (DPR) is presently 114.59%.

Analysts Set New Price Targets

A number of brokerages have issued reports on D. BMO Capital Markets cut shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a report on Monday, March 11th. Barclays lowered their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company boosted their target price on shares of Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Guggenheim decreased their price target on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, Scotiabank decreased their price target on shares of Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and an average price target of $50.10.

Insider Buying and Selling at Dominion Energy

In other Dominion Energy news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the transaction, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joseph M. Rigby bought 2,130 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares in the company, valued at approximately $395,093.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert M. Blue bought 21,735 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $45.91 per share, with a total value of $997,853.85. Following the completion of the acquisition, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Dominion Energy Company Profile

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.