Jupiter Asset Management Ltd. Sells 229,079 Shares of 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. lowered its stake in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 16.0% in the first quarter, according to its most recent disclosure 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 about 0.14% of Dominion Energy worth $67,198,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in Dominion Energy by 8,585.3% during the 4th quarter. Marshall Wace LLP now owns 2,210,322 shares of the utilities provider's stock valued at $119,048,000 after purchasing an additional 2,184,873 shares during the period. Zimmer Partners LP bought a new stake in Dominion Energy during the 4th quarter valued at approximately $72,269,000. Northern Trust Corp boosted its stake in Dominion Energy by 16.7% during the 4th quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider's stock valued at $501,759,000 after purchasing an additional 1,330,459 shares during the period. GAMMA Investing LLC boosted its stake in Dominion Energy by 6,252.7% during the 1st quarter. GAMMA Investing LLC now owns 1,276,770 shares of the utilities provider's stock valued at $71,588,000 after purchasing an additional 1,256,672 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Dominion Energy by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider's stock valued at $890,318,000 after purchasing an additional 939,835 shares during the period. Institutional investors own 73.04% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley decreased their target price on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price target 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $58.88.

Dominion Energy Stock Up 3.3%

Shares of D opened at $60.38 on Friday. The stock has a market cap of $51.49 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 1.27 and a beta of 0.57. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Dominion Energy Inc. has a 12 month low of $48.07 and a 12 month high of $61.97. The company has a 50-day moving average price of $56.69 and a two-hundred day moving average price of $55.37.

Dominion Energy (NYSE:D - Get Free Report) last announced 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 the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 EPS. Equities analysts predict that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

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

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