Dominion Energy Inc. (NYSE:D) Shares Sold by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. significantly reduced its stake in Dominion Energy by 45.3%, owning 6,649 shares valued at $373,000 after selling 5,507 shares during the first quarter.
• Various hedge funds have adjusted their positions in Dominion Energy, with Brighton Jones LLC increasing its stake by 64.3% and Invesco Ltd. acquiring a stake worth approximately $590 million.
• Dominion Energy recently reported a missed earnings estimate with $0.75 EPS compared to expectations of $0.77, despite a year-over-year revenue increase of 9.3%.

Harbour Investments Inc. lowered its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 45.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,649 shares of the utilities provider's stock after selling 5,507 shares during the quarter. Harbour Investments Inc.'s holdings in Dominion Energy were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in D. Brighton Jones LLC lifted its stake in Dominion Energy by 64.3% during the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider's stock worth $489,000 after purchasing an additional 3,553 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Dominion Energy during the fourth quarter worth $379,000. Wedbush Securities Inc. lifted its stake in Dominion Energy by 8.9% during the fourth quarter. Wedbush Securities Inc. now owns 10,760 shares of the utilities provider's stock worth $580,000 after purchasing an additional 876 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in Dominion Energy by 77.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,287 shares of the utilities provider's stock worth $69,000 after purchasing an additional 563 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Dominion Energy by 6.8% during the fourth quarter. Invesco Ltd. now owns 10,959,325 shares of the utilities provider's stock worth $590,269,000 after purchasing an additional 701,653 shares during the last quarter. Institutional investors and hedge funds own 73.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on D. Morgan Stanley cut their target price 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. JPMorgan Chase & Co. raised their target price on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $59.14.

Dominion Energy Price Performance

Shares of D opened at $61.06 on Wednesday. The firm has a market capitalization of $52.11 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.53 and a current ratio of 0.67. Dominion Energy Inc. has a one year low of $48.07 and a one year high of $61.97. The stock's fifty day moving average is $56.88 and its 200-day moving average is $55.47.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $3.73 billion. Dominion Energy had a net margin of 16.45% and a return on equity of 9.68%. Dominion Energy's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. Equities analysts anticipate that Dominion Energy Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, September 5th. Dominion Energy's dividend payout ratio (DPR) is 92.07%.

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.

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