Allspring Global Investments Holdings LLC Decreases Stake in Dominion Energy Inc. (NYSE:D)

Allspring Global Investments Holdings LLC reduced its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 306,411 shares of the utilities provider's stock after selling 40,876 shares during the period. Allspring Global Investments Holdings LLC's holdings in Dominion Energy were worth $17,239,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Dominion Energy in the 4th quarter valued at about $473,354,000. American Century Companies Inc. lifted its position in shares of Dominion Energy by 207.7% during the 4th quarter. American Century Companies Inc. now owns 3,763,898 shares of the utilities provider's stock worth $202,724,000 after buying an additional 2,540,713 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Dominion Energy by 8,585.3% in the 4th quarter. Marshall Wace LLP now owns 2,210,322 shares of the utilities provider's stock valued at $119,048,000 after buying an additional 2,184,873 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Dominion Energy by 4.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider's stock valued at $1,667,540,000 after buying an additional 1,459,926 shares during the last quarter. Finally, Zimmer Partners LP acquired a new stake in Dominion Energy during the 4th quarter worth $72,269,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on D. Argus upgraded shares of Dominion Energy to a "hold" rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $52.00 target price (down from $59.00) on shares of Dominion Energy in a report on Tuesday, April 8th. Morgan Stanley dropped their price target on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, UBS Group boosted their price objective on Dominion Energy from $58.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Dominion Energy currently has a consensus rating of "Hold" and a consensus price target of $58.38.

Dominion Energy Stock Performance

D stock traded down $0.45 during trading on Friday, hitting $56.98. The company had a trading volume of 3,095,639 shares, compared to its average volume of 4,756,635. The firm has a 50-day moving average price of $55.57 and a 200-day moving average price of $54.81. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The firm has a market cap of $48.59 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the business posted $0.55 EPS. The company's revenue was up 12.2% on a year-over-year basis. On average, analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Thursday, May 29th. Dominion Energy's payout ratio is 100.00%.

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.