Dominion Energy, Inc. (NYSE:D) Shares Sold by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. trimmed its position in Dominion Energy, Inc. (NYSE:D) by 4.5% in the 4th quarter, HoldingsChannel reports. The firm owned 15,503 shares of the utilities provider’s stock after selling 735 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Dominion Energy were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Dominion Energy by 631.2% during the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after purchasing an additional 14,105,237 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Dominion Energy by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after buying an additional 1,928,823 shares in the last quarter. Magellan Asset Management Ltd grew its position in shares of Dominion Energy by 53.1% in the third quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock valued at $199,800,000 after purchasing an additional 1,551,611 shares during the period. Federated Hermes Inc. boosted its holdings in Dominion Energy by 12.0% in the 3rd quarter. Federated Hermes Inc. now owns 7,536,507 shares of the utilities provider’s stock worth $336,656,000 after buying an additional 805,570 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Dominion Energy by 12.8% during the third 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 last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Dominion Energy from $51.00 to $52.00 and gave the stock a “market perform” rating in a research note on Monday. Evercore ISI increased their price objective on Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Mizuho upped their price target on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Guggenheim reduced their price objective 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 dropped their target price on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.73.

Dominion Energy Stock Performance

D stock traded up $0.03 during trading on Wednesday, hitting $52.15. The company had a trading volume of 3,162,020 shares, compared to its average volume of 5,214,497. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $57.02. The firm has a 50-day moving average price of $48.85 and a 200-day moving average price of $46.92. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. The firm has a market cap of $43.68 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. Dominion Energy’s quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Friday, May 31st. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

Insider Buying and Selling

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

About Dominion Energy

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.