Baird Financial Group Inc. Decreases Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Baird Financial Group Inc. cut its holdings in Dominion Energy, Inc. (NYSE:D - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,086 shares of the utilities provider's stock after selling 10,189 shares during the period. Baird Financial Group Inc.'s holdings in Dominion Energy were worth $2,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of D. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Dominion Energy by 450.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock worth $25,000 after acquiring an additional 378 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in Dominion Energy by 175.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 300 shares during the period. BankPlus Trust Department purchased a new stake in shares of Dominion Energy in the fourth quarter valued at about $26,000. Roble Belko & Company Inc purchased a new position in shares of Dominion Energy during the fourth quarter worth about $27,000. Finally, Fairway Wealth LLC acquired a new position in Dominion Energy in the 4th quarter valued at about $27,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Price Performance

Shares of D traded up $0.98 during trading hours on Thursday, reaching $54.98. 5,850,843 shares of the company traded hands, compared to its average volume of 4,431,847. The stock has a fifty day simple moving average of $53.93 and a 200 day simple moving average of $55.14. Dominion Energy, Inc. has a fifty-two week low of $47.99 and a fifty-two week high of $61.97. The stock has a market capitalization of $46.89 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. The company's quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts predict that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a dividend of $0.6675 per share. The ex-dividend date is Thursday, May 29th. This represents a $2.67 annualized dividend and a yield of 4.86%. Dominion Energy's dividend payout ratio (DPR) is presently 100.00%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on D. UBS Group lifted their target price on Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley boosted their price target on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $52.00 price objective (down previously from $59.00) on shares of Dominion Energy in a report on Tuesday, April 8th. Finally, Argus raised Dominion Energy to a "hold" rating in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Dominion Energy presently has a consensus rating of "Hold" and an average price target of $58.75.

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.