Legal & General Group Plc Sells 392,678 Shares of Dominion Energy, Inc. (NYSE:D)

Legal & General Group Plc cut its stake in shares of Dominion Energy, Inc. (NYSE:D) by 4.1% in the second quarter, HoldingsChannel reports. The fund owned 9,106,349 shares of the utilities provider’s stock after selling 392,678 shares during the period. Legal & General Group Plc’s holdings in Dominion Energy were worth $446,211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in D. Vanguard Group Inc. grew its stake in shares of Dominion Energy by 16.0% during the 1st quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after acquiring an additional 12,178,713 shares during the period. Capital Research Global Investors boosted its stake in Dominion Energy by 136.5% in the 4th quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after purchasing an additional 10,370,768 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Dominion Energy by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after purchasing an additional 2,801,687 shares during the period. Wellington Management Group LLP boosted its stake in Dominion Energy by 13.2% in the 4th quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock worth $869,184,000 after purchasing an additional 2,153,488 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in Dominion Energy in the 2nd quarter worth approximately $67,854,000. 73.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on D. BMO Capital Markets upped their price target on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Scotiabank upped their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group assumed coverage on Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Dominion Energy currently has an average rating of “Hold” and an average target price of $54.50.

Dominion Energy Stock Performance

NYSE:D opened at $57.16 on Friday. The stock’s fifty day moving average is $55.81 and its 200 day moving average is $52.29. Dominion Energy, Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $58.94. The firm has a market capitalization of $47.88 billion, a PE ratio of 29.46, a PEG ratio of 1.53 and a beta of 0.60. 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 (NYSE:D) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. Dominion Energy’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend was Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

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.