Cornerstone Advisory LLC Sells 4,068 Shares of Dominion Energy, Inc. (NYSE:D)

Cornerstone Advisory LLC reduced its position in Dominion Energy, Inc. (NYSE:DFree Report) by 35.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,468 shares of the utilities provider’s stock after selling 4,068 shares during the period. Cornerstone Advisory LLC’s holdings in Dominion Energy were worth $351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in D. JPMorgan Chase & Co. increased its position in shares of Dominion Energy by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after purchasing an additional 1,928,823 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Dominion Energy by 631.2% during the 3rd quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after purchasing an additional 14,105,237 shares during the period. Northern Trust Corp grew its holdings in Dominion Energy by 2.7% during the 3rd quarter. Northern Trust Corp now owns 8,527,408 shares of the utilities provider’s stock valued at $380,919,000 after purchasing an additional 220,238 shares during the last quarter. Federated Hermes Inc. raised its position in Dominion Energy by 1.0% in the 4th quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock worth $357,769,000 after purchasing an additional 75,600 shares during the period. Finally, Morgan Stanley lifted its stake in Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after purchasing an additional 803,341 shares during the last quarter. 73.04% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Joseph M. Rigby acquired 2,130 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $46.94 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.12% of the company’s stock.

Dominion Energy Stock Performance

D traded down $0.25 on Monday, reaching $53.67. 5,028,359 shares of the stock were exchanged, compared to its average volume of 5,062,182. The company’s 50-day moving average price is $50.83 and its 200 day moving average price is $48.21. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94. The firm has a market capitalization of $44.95 billion, a PE ratio of 27.67, a PEG ratio of 1.44 and a beta of 0.60. Dominion Energy, Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $54.74.

Dominion Energy (NYSE:DGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 EPS 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 business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the firm earned $0.99 EPS. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.97%. Dominion Energy’s payout ratio is 137.63%.

Analysts Set New Price Targets

Several analysts have recently weighed in on D shares. Mizuho lifted their target price on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. BMO Capital Markets boosted their price objective on shares of Dominion Energy from $51.00 to $52.00 and gave the company a “market perform” rating in a research report on Monday, May 6th. StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Wells Fargo & Company boosted their price target on Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, Guggenheim cut their target price on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.73.

Read Our Latest Report on Dominion Energy

Dominion Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dominion Energy (NYSE:D)

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