Brighton Jones LLC Decreases Stake in Dominion Energy, Inc. (NYSE:D)

Brighton Jones LLC lessened its stake in Dominion Energy, Inc. (NYSE:D) by 19.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,528 shares of the utilities provider’s stock after selling 1,337 shares during the quarter. Brighton Jones LLC’s holdings in Dominion Energy were worth $319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Family Firm Inc. acquired a new stake in Dominion Energy in the second quarter valued at $27,000. LRI Investments LLC acquired a new stake in Dominion Energy in the 1st quarter valued at about $32,000. Triad Wealth Partners LLC purchased a new position in Dominion Energy during the 2nd quarter valued at about $33,000. Opal Wealth Advisors LLC acquired a new position in Dominion Energy during the second quarter worth about $35,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of Dominion Energy in the second quarter valued at about $36,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Price Performance

D opened at $59.58 on Friday. Dominion Energy, Inc. has a 1 year low of $39.44 and a 1 year high of $61.26. The company’s 50 day simple moving average is $57.60 and its 200 day simple moving average is $53.70. The stock has a market capitalization of $49.90 billion, a PE ratio of 30.71, a P/E/G ratio of 1.60 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 announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, beating 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 net margin of 11.63% and a return on equity of 7.69%. Dominion Energy’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. As a group, sell-side analysts expect that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Friday, August 30th. Dominion Energy’s dividend payout ratio is currently 137.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on D shares. JPMorgan Chase & Co. raised their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Barclays raised their price target on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets upped their price objective on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Scotiabank lifted their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on shares of Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.40.

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.