Northwest & Ethical Investments L.P. Trims Holdings in Dominion Energy Inc. $D

Key Points

• Northwest & Ethical Investments L.P. reduced its holdings in Dominion Energy Inc. by 38.3%, bringing its share count to 120,523 and valuing its stake at approximately $6.76 million.
• Dominion Energy reported a quarterly earnings miss with $0.75 EPS against an expected $0.77, despite a year-over-year revenue increase of 9.3% to $3.81 billion.
• The company announced a quarterly dividend of $0.6675 per share, resulting in an annualized dividend yield of 4.4%.

Northwest & Ethical Investments L.P. reduced its position in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,523 shares of the utilities provider's stock after selling 74,741 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Dominion Energy were worth $6,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in D. Brighton Jones LLC increased its holdings in shares of Dominion Energy by 64.3% during the fourth quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider's stock valued at $489,000 after purchasing an additional 3,553 shares during the period. NewEdge Advisors LLC boosted its stake in Dominion Energy by 24.3% during the fourth quarter. NewEdge Advisors LLC now owns 70,992 shares of the utilities provider's stock valued at $3,824,000 after buying an additional 13,877 shares in the last quarter. Commerce Bank boosted its position in shares of Dominion Energy by 2.4% in the 4th quarter. Commerce Bank now owns 134,463 shares of the utilities provider's stock valued at $7,242,000 after purchasing an additional 3,098 shares during the period. GeoWealth Management LLC boosted its position in shares of Dominion Energy by 44.1% in the 4th quarter. GeoWealth Management LLC now owns 4,502 shares of the utilities provider's stock valued at $242,000 after purchasing an additional 1,377 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Dominion Energy by 259.0% in the 4th quarter. First Trust Advisors LP now owns 1,130,069 shares of the utilities provider's stock valued at $60,866,000 after purchasing an additional 815,326 shares during the period. 73.04% of the stock is owned by institutional investors and hedge funds.

Dominion Energy Stock Performance

D opened at $61.11 on Monday. The stock has a market cap of $52.15 billion, a PE ratio of 21.07, a P/E/G ratio of 1.33 and a beta of 0.57. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.26. The stock's 50 day simple moving average is $57.71 and its 200-day simple moving average is $55.85.

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

Dominion Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

D has been the subject of several 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 report on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price target on Dominion Energy from $53.00 to $56.00 and gave the company an "underweight" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $59.14.

Dominion Energy Company 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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