Forsta AP Fonden Reduces Holdings in Dominion Energy Inc. (NYSE:D)

Key Points

• Forsta AP Fonden reduced its stake in Dominion Energy Inc. by 41.8%, now holding 189,900 shares worth approximately $10.6 million.
• Dominion Energy reported $0.75 EPS for the last quarter, missing estimates, but its revenue was up 9.3% year-over-year at $3.81 billion.
• The company is set to pay a quarterly dividend of $0.6675 per share, yielding 4.3%, with a payout ratio of 92.07%.

Forsta AP Fonden trimmed its position in Dominion Energy Inc. (NYSE:D - Free Report) by 41.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,900 shares of the utilities provider's stock after selling 136,400 shares during the quarter. Forsta AP Fonden's holdings in Dominion Energy were worth $10,648,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in 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 valued at $25,000 after acquiring an additional 378 shares in the last quarter. Orion Capital Management LLC purchased a new position in Dominion Energy during the fourth quarter valued at approximately $27,000. VSM Wealth Advisory LLC purchased a new position in Dominion Energy during the first quarter valued at approximately $28,000. Park Square Financial Group LLC purchased a new position in Dominion Energy during the fourth quarter valued at approximately $27,000. Finally, Navigoe LLC purchased a new position in Dominion Energy during the fourth quarter valued at approximately $29,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of Dominion Energy stock traded down $0.26 on Monday, reaching $61.56. The company's stock had a trading volume of 4,151,700 shares, compared to its average volume of 4,932,773. The company has a market capitalization of $52.53 billion, a P/E ratio of 21.23, a PEG ratio of 1.34 and a beta of 0.57. Dominion Energy Inc. has a 52-week low of $48.07 and a 52-week high of $62.26. The stock has a 50-day moving average price of $57.29 and a 200-day moving average price of $55.68. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

Dominion Energy (NYSE:D - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The business had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. Analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Investors of record on Friday, September 5th will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, September 5th. Dominion Energy's payout ratio is presently 92.07%.

Analyst Upgrades and Downgrades

D has been the subject of several recent research reports. Morgan Stanley reduced their price target on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price objective on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Dominion Energy currently has a consensus rating of "Hold" and a consensus target price of $59.14.

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.