Verdence Capital Advisors LLC Cuts Stake in Dominion Energy, Inc. (NYSE:D)

Verdence Capital Advisors LLC decreased its stake in Dominion Energy, Inc. (NYSE:D) by 15.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,377 shares of the utilities provider’s stock after selling 4,371 shares during the period. Verdence Capital Advisors LLC’s holdings in Dominion Energy were worth $1,145,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. SG Americas Securities LLC lifted its position in Dominion Energy by 105.0% during the 1st quarter. SG Americas Securities LLC now owns 97,105 shares of the utilities provider’s stock worth $4,777,000 after acquiring an additional 49,740 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Dominion Energy by 14.1% during the first quarter. Wedmont Private Capital now owns 4,822 shares of the utilities provider’s stock valued at $239,000 after purchasing an additional 596 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Dominion Energy by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,885,024 shares of the utilities provider’s stock valued at $229,596,000 after purchasing an additional 187,726 shares during the period. Vinva Investment Management Ltd grew its holdings in Dominion Energy by 27.0% during the 4th quarter. Vinva Investment Management Ltd now owns 6,818 shares of the utilities provider’s stock valued at $321,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Dominion Energy during the 1st quarter worth $708,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Dominion Energy Trading Up 0.1 %

NYSE D opened at $56.52 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $57.60. The company has a 50-day simple moving average of $52.32 and a 200-day simple moving average of $50.55. The firm has a market capitalization of $47.34 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58.

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

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, August 30th. Dominion Energy’s dividend payout ratio is presently 137.63%.

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.