SVB Wealth LLC Trims Stake in Dominion Energy, Inc. (NYSE:D)

SVB Wealth LLC cut its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,383 shares of the utilities provider’s stock after selling 325 shares during the quarter. SVB Wealth LLC’s holdings in Dominion Energy were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Dominion Energy by 16.0% during the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after buying an additional 12,178,713 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Dominion Energy by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock valued at $1,204,904,000 after acquiring an additional 2,801,687 shares during the period. Capital Research Global Investors grew its position in Dominion Energy by 20.1% in the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock valued at $1,061,740,000 after acquiring an additional 3,613,614 shares in the last quarter. Wellington Management Group LLP increased its stake in Dominion Energy by 13.2% during the fourth 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, Federated Hermes Inc. grew its holdings in shares of Dominion Energy by 1.0% in the fourth quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock valued at $357,769,000 after purchasing an additional 75,600 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Scotiabank reduced their price objective on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets lowered their price objective on Dominion Energy from $52.00 to $51.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Barclays reduced their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Bank of America upgraded shares of Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $43.00 to $54.00 in a report on Friday, May 10th. Finally, Mizuho lifted their price objective on shares of Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Dominion Energy currently has a consensus rating of “Hold” and a consensus target price of $51.64.

Dominion Energy Stock Performance

NYSE:D traded down $0.20 during mid-day trading on Tuesday, reaching $52.71. 414,405 shares of the stock were exchanged, compared to its average volume of 4,625,322. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $54.23. The company has a 50 day simple moving average of $51.14 and a 200-day simple moving average of $49.18. The stock has a market capitalization of $44.15 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.41 and a beta of 0.59.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. Analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, May 31st. Dominion Energy’s dividend payout ratio is currently 137.63%.

Dominion Energy 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.