Essex Savings Bank reduced its position in Dominion Energy Inc (NYSE:D) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,148 shares of the utilities provider’s stock after selling 250 shares during the period. Essex Savings Bank’s holdings in Dominion Energy were worth $165,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Dominion Energy by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 605,578 shares of the utilities provider’s stock worth $42,560,000 after purchasing an additional 11,178 shares during the last quarter. Morgan Stanley lifted its stake in Dominion Energy by 46.1% during the 3rd quarter. Morgan Stanley now owns 3,759,391 shares of the utilities provider’s stock valued at $264,209,000 after acquiring an additional 1,185,720 shares during the period. Vanguard Group Inc lifted its stake in Dominion Energy by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 49,883,013 shares of the utilities provider’s stock valued at $3,505,778,000 after acquiring an additional 825,191 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new stake in Dominion Energy during the 4th quarter valued at approximately $200,000. Finally, Personal Capital Advisors Corp acquired a new stake in Dominion Energy during the 4th quarter valued at approximately $234,000. 59.38% of the stock is currently owned by institutional investors.
D opened at $75.60 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.61 and a debt-to-equity ratio of 1.35. Dominion Energy Inc has a 1 year low of $61.53 and a 1 year high of $77.91. The firm has a market capitalization of $60.66 billion, a P/E ratio of 18.67, a PEG ratio of 3.70 and a beta of 0.23.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a $0.9175 dividend. This represents a $3.67 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Thursday, June 6th. Dominion Energy’s dividend payout ratio is currently 90.62%.
Several analysts have commented on D shares. JPMorgan Chase & Co. cut shares of Dominion Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $79.00 to $73.00 in a research note on Tuesday, January 22nd. Zacks Investment Research cut shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. Argus restated a “buy” rating on shares of Dominion Energy in a research note on Wednesday, February 27th. Mizuho started coverage on shares of Dominion Energy in a research note on Monday, March 11th. They set a “neutral” rating and a $76.00 price objective for the company. Finally, Macquarie cut shares of Dominion Energy from an “outperform” rating to a “neutral” rating in a research note on Monday, March 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $85.00.
In related news, Director Robert H. Spilman, Jr. sold 1,215 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.01, for a total value of $92,352.15. Following the completion of the transaction, the director now directly owns 23,598 shares in the company, valued at approximately $1,793,683.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director D Maybank Hagood acquired 1,965 shares of Dominion Energy stock in a transaction on Wednesday, March 13th. The shares were bought at an average price of $76.34 per share, with a total value of $150,008.10. Following the completion of the transaction, the director now directly owns 2,975 shares of the company’s stock, valued at approximately $227,111.50. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.
About Dominion Energy
Dominion Energy, Inc produces and transports energy. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities.
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