Harbour Investments Inc. Decreases Stake in Dominion Energy, Inc. (NYSE:D)

Harbour Investments Inc. cut its position in Dominion Energy, Inc. (NYSE:D) by 3.1% during the second quarter, HoldingsChannel reports. The firm owned 12,980 shares of the utilities provider’s stock after selling 418 shares during the quarter. Harbour Investments Inc.’s holdings in Dominion Energy were worth $636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Family Firm Inc. purchased a new stake in Dominion Energy during the second quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in shares of Dominion Energy during the first quarter worth about $30,000. LRI Investments LLC acquired a new stake in shares of Dominion Energy during the first quarter worth about $30,000. Triad Wealth Partners LLC acquired a new stake in shares of Dominion Energy in the 2nd quarter valued at about $33,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Dominion Energy in the second quarter valued at approximately $35,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

NYSE:D opened at $56.15 on Thursday. The firm has a market cap of $47.11 billion, a PE ratio of 28.94, a P/E/G ratio of 1.51 and a beta of 0.58. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $57.60. The firm has a 50 day simple moving average of $52.45 and a 200-day simple moving average of $50.63.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. On average, equities analysts expect that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Analyst Ratings Changes

A number of brokerages have recently commented on D. Wells Fargo & Company lifted their target price on shares of Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. BMO Capital Markets upped their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $43.00 to $54.00 in a research note on Friday, May 10th. JPMorgan Chase & Co. boosted their price target on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, 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. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Dominion Energy has a consensus rating of “Hold” and an average price target of $54.00.

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.