Dominion Energy, Inc. (NYSE:D) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd decreased its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 5.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,955,452 shares of the utilities provider’s stock after selling 238,696 shares during the period. Dominion Energy accounts for about 2.3% of Magellan Asset Management Ltd’s holdings, making the stock its 19th biggest holding. Magellan Asset Management Ltd’s holdings in Dominion Energy were worth $213,041,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cape Investment Advisory Inc. lifted its holdings in Dominion Energy by 175.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. BankPlus Trust Department purchased a new position in shares of Dominion Energy in the 4th quarter valued at about $26,000. Roble Belko & Company Inc acquired a new position in Dominion Energy during the 4th quarter worth approximately $27,000. Fairway Wealth LLC purchased a new stake in Dominion Energy during the 4th quarter worth about $27,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in Dominion Energy by 100.4% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 519 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $56.27 on Thursday. The business’s fifty day moving average price is $55.26 and its two-hundred day moving average price is $56.15. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. Dominion Energy, Inc. has a fifty-two week low of $46.62 and a fifty-two week high of $61.97. The stock has a market capitalization of $47.95 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. As a group, analysts predict that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were paid a dividend of $0.6675 per share. The ex-dividend date was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.74%. Dominion Energy’s dividend payout ratio (DPR) is currently 98.89%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on D. UBS Group increased their price objective on Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, March 21st. JPMorgan Chase & Co. upped their target price on Dominion Energy from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Scotiabank lifted their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Argus upgraded shares of Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. Finally, Morgan Stanley lifted their price objective on Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Thirteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and a consensus price target of $57.58.

Dominion Energy 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.