Welch & Forbes LLC Lowers Position in Dominion Energy, Inc. (NYSE:D)

Welch & Forbes LLC reduced its position in Dominion Energy, Inc. (NYSE:D) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,273 shares of the utilities provider’s stock after selling 1,438 shares during the period. Welch & Forbes LLC’s holdings in Dominion Energy were worth $201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Dominion Energy by 631.2% in the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after buying an additional 14,105,237 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Dominion Energy by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock worth $1,045,051,000 after acquiring an additional 1,928,823 shares during the last quarter. Magellan Asset Management Ltd boosted its stake in shares of Dominion Energy by 53.1% in the third quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock worth $199,800,000 after acquiring an additional 1,551,611 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Dominion Energy by 12.0% during the third quarter. Federated Hermes Inc. now owns 7,536,507 shares of the utilities provider’s stock worth $336,656,000 after purchasing an additional 805,570 shares in the last quarter. Finally, Morgan Stanley raised its stake in Dominion Energy by 12.8% in the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after purchasing an additional 803,341 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Insider Buying and Selling at Dominion Energy

In other Dominion Energy news, Director Joseph M. Rigby purchased 2,130 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the transaction, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Robert M. Blue acquired 21,735 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $45.91 per share, with a total value of $997,853.85. Following the transaction, the chief executive officer now owns 176,240 shares in the company, valued at approximately $8,091,178.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph M. Rigby acquired 2,130 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares in the company, valued at approximately $395,093.98. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

Dominion Energy Price Performance

Shares of D opened at $52.15 on Thursday. The firm has a 50-day simple moving average of $48.85 and a two-hundred day simple moving average of $46.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $57.02. The stock has a market cap of $43.68 billion, a PE ratio of 26.88, a P/E/G ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Friday, May 31st. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 15th. BMO Capital Markets increased their price objective on shares of Dominion Energy from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Monday. Bank of America raised their target price on shares of Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. StockNews.com cut Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Finally, Mizuho boosted their price objective on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.73.

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.