Main Street Group LTD Reduces Position in Dominion Energy, Inc. (NYSE:D)

Main Street Group LTD cut its stake in Dominion Energy, Inc. (NYSE:D) by 17.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,160 shares of the utilities provider’s stock after selling 4,419 shares during the period. Dominion Energy accounts for 0.4% of Main Street Group LTD’s portfolio, making the stock its 22nd largest position. Main Street Group LTD’s holdings in Dominion Energy were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of D. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 12,178,713 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Dominion Energy by 12.9% in the first 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 holdings in shares of Dominion Energy by 20.1% during the first quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock valued at $1,061,740,000 after purchasing an additional 3,613,614 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Dominion Energy by 13.2% during 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, Bank of New York Mellon Corp lifted its holdings in shares of Dominion Energy by 6.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,979,739 shares of the utilities provider’s stock worth $734,007,000 after purchasing an additional 940,402 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Down 0.4 %

Shares of D stock traded down $0.23 on Friday, reaching $57.11. 2,582,535 shares of the company’s stock traded hands, compared to its average volume of 4,480,816. The business’s 50 day moving average price is $53.60 and its two-hundred day moving average price is $51.18. The company has a market capitalization of $47.91 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.54 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, Inc. has a 12-month low of $39.18 and a 12-month high of $58.13.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.67 annualized dividend and a dividend yield of 4.68%. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

Analyst Ratings Changes

Several research firms have commented on D. JPMorgan Chase & Co. upped their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Scotiabank boosted their price target 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. Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and raised their price target for the company from $43.00 to $54.00 in a report on Friday, May 10th. Finally, BMO Capital Markets lifted their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and an average target price of $54.00.

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.