Maryland State Retirement & Pension System Reduces Stake in Dominion Energy Inc. (NYSE:D)

Key Points

• Maryland State Retirement & Pension System reduced its holdings in Dominion Energy by 12.5%, owning 39,178 shares worth $2.197 million after selling 5,574 shares.
• Dominion Energy reported a quarterly earnings per share of $0.75, falling short of the consensus estimate by $0.02, despite a 9.3% increase in revenue compared to the same quarter last year.
• The company's recent dividend of $0.6675 per share comes with a yield of 4.3% and a payout ratio of 92.07%.

Maryland State Retirement & Pension System decreased its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 12.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,178 shares of the utilities provider's stock after selling 5,574 shares during the quarter. Maryland State Retirement & Pension System's holdings in Dominion Energy were worth $2,197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Dominion Energy by 450.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Dominion Energy during the 4th quarter worth $27,000. Park Square Financial Group LLC purchased a new stake in shares of Dominion Energy during the 4th quarter worth $27,000. VSM Wealth Advisory LLC purchased a new stake in shares of Dominion Energy during the 1st quarter worth $28,000. Finally, Navigoe LLC purchased a new stake in shares of Dominion Energy during the 4th quarter worth $29,000. Institutional investors own 73.04% of the company's stock.

Analyst Upgrades and Downgrades

D has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target 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. raised their target price on Dominion Energy from $53.00 to $56.00 and gave the stock an "underweight" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Dominion Energy presently has a consensus rating of "Hold" and a consensus target price of $59.14.

Dominion Energy Trading Up 0.7%

D traded up $0.45 during mid-day trading on Wednesday, hitting $61.76. 1,778,925 shares of the stock were exchanged, compared to its average volume of 5,339,149. The firm's fifty day moving average is $57.38 and its two-hundred day moving average is $55.72. Dominion Energy Inc. has a 1-year low of $48.07 and a 1-year high of $62.26. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35. The company has a market cap of $52.71 billion, a PE ratio of 21.30, a PEG ratio of 1.33 and a beta of 0.57.

Dominion Energy (NYSE:D - Get Free Report) last posted its earnings results on Friday, August 1st. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the company posted $0.65 EPS. Dominion Energy's revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

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

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.