Jupiter Asset Management Ltd. Decreases Stock Holdings in Dominion Energy Inc. (NYSE:D)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Dominion Energy by 16.0%, selling 229,079 shares, and now holds about 1.2 million shares valued at approximately $67.2 million.
• Several institutional investors, including Marshall Wace LLP and Northern Trust Corp, significantly increased their stakes in Dominion Energy during the fourth quarter of the previous year.
• Dominion Energy reported a miss on EPS estimates at $0.75 for the last quarter, but its revenue of $3.81 billion exceeded expectations, and the company announced a quarterly dividend of $0.6675 per share, yielding 4.4%.

Jupiter Asset Management Ltd. reduced its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,198,465 shares of the utilities provider's stock after selling 229,079 shares during the quarter. Jupiter Asset Management Ltd. owned 0.14% of Dominion Energy worth $67,198,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. SPC Financial Inc. grew its holdings in shares of Dominion Energy by 3.5% during the 1st quarter. SPC Financial Inc. now owns 12,007 shares of the utilities provider's stock valued at $673,000 after acquiring an additional 402 shares in the last quarter. MONECO Advisors LLC grew its holdings in shares of Dominion Energy by 1.0% during the 1st quarter. MONECO Advisors LLC now owns 37,234 shares of the utilities provider's stock valued at $2,088,000 after acquiring an additional 386 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Dominion Energy by 4.1% during the 1st quarter. Moors & Cabot Inc. now owns 29,206 shares of the utilities provider's stock valued at $1,638,000 after acquiring an additional 1,153 shares in the last quarter. Alberta Investment Management Corp purchased a new position in shares of Dominion Energy during the 1st quarter valued at $4,258,000. Finally, BCGM Wealth Management LLC boosted its holdings in Dominion Energy by 12.8% in the first quarter. BCGM Wealth Management LLC now owns 12,220 shares of the utilities provider's stock worth $685,000 after purchasing an additional 1,388 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

NYSE D traded down $0.08 during trading on Wednesday, reaching $61.00. The company's stock had a trading volume of 4,050,577 shares, compared to its average volume of 5,380,345. The company has a current ratio of 0.67, a quick ratio of 0.53 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $52.06 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57. Dominion Energy Inc. has a 12 month low of $48.07 and a 12 month high of $61.97. The firm has a 50 day moving average price of $56.88 and a 200 day moving average price of $55.47.

Dominion Energy (NYSE:D - Get Free Report) last issued its earnings results on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The firm had revenue of $3.81 billion during 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 quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, equities analysts anticipate that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, September 5th. Dominion Energy's dividend payout ratio is currently 92.07%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on D shares. Morgan Stanley dropped their price target on shares of 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. raised their price objective on shares of Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.