Pettyjohn Wood & White Inc. Cuts Holdings in Dominion Energy Inc. (NYSE:D)

Key Points

• Pettyjohn Wood & White Inc. significantly reduced its holdings in Dominion Energy Inc. by 27.1%, owning 21,087 shares after selling 7,845 shares during the first quarter.
• Dominion Energy's earnings per share beat estimates at $0.93, reflecting a revenue growth of 12.2% year-over-year with a total revenue of $4.08 billion.
• The company announced a quarterly dividend of $0.6675 per share, resulting in an annualized dividend of $2.67 and a yield of 4.6%.

Pettyjohn Wood & White Inc. decreased its holdings in Dominion Energy Inc. (NYSE:D - Free Report) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,087 shares of the utilities provider's stock after selling 7,845 shares during the period. Pettyjohn Wood & White Inc.'s holdings in Dominion Energy were worth $1,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cadence Bank raised its position in Dominion Energy by 2.0% in the 4th quarter. Cadence Bank now owns 9,561 shares of the utilities provider's stock worth $515,000 after buying an additional 189 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Dominion Energy by 3.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock worth $338,000 after acquiring an additional 193 shares during the period. Centre Asset Management LLC raised its holdings in shares of Dominion Energy by 3.3% during the first quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock valued at $350,000 after purchasing an additional 198 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in Dominion Energy by 1.1% during the first quarter. Cornerstone Wealth Group LLC now owns 18,229 shares of the utilities provider's stock valued at $1,022,000 after purchasing an additional 202 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings in Dominion Energy by 4.6% in the first quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock worth $263,000 after purchasing an additional 208 shares during the last quarter. 73.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

D has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price 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. Morgan Stanley reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $58.88.

Dominion Energy Trading Up 0.4%

Shares of D stock opened at $58.47 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market cap of $49.86 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.26 and a beta of 0.56. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $61.97. The firm has a fifty day moving average price of $56.61 and a 200-day moving average price of $55.33.

Dominion Energy (NYSE:D - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.95 billion. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. Dominion Energy's quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, equities analysts predict that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

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 paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.6%. Dominion Energy's dividend payout ratio (DPR) is presently 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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