Dominion Energy Inc. (NYSE:D) Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. reduced its position in Dominion Energy by 2.2%, holding approximately $60.13 million in the utility's stock after selling 24,401 shares.
• Several hedge funds have significantly increased their holdings in Dominion Energy, with Marshall Wace LLP growing its stake by over 8,500% in the last quarter.
• Dominion Energy announced a quarterly dividend of $0.6675, resulting in an annualized yield of 4.4% for shareholders, with a payout ratio of 92.07%.

PNC Financial Services Group Inc. cut its holdings in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,072,433 shares of the utilities provider's stock after selling 24,401 shares during the quarter. PNC Financial Services Group Inc. owned about 0.13% of Dominion Energy worth $60,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of D. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Dominion Energy by 450.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 378 shares during the period. Orion Capital Management LLC purchased a new position in Dominion Energy in the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new position in Dominion Energy during the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC purchased a new position in Dominion Energy in the first quarter valued at about $28,000. Finally, Navigoe LLC acquired a new position in Dominion Energy in the fourth quarter worth about $29,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

D has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. JPMorgan Chase & Co. raised their price target on Dominion Energy from $53.00 to $56.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Dominion Energy currently has a consensus rating of "Hold" and an average target price of $59.14.

Dominion Energy Price Performance

NYSE:D traded up $0.71 during mid-day trading on Thursday, hitting $61.68. 5,355,270 shares of the stock traded hands, compared to its average volume of 5,382,085. The company has a quick ratio of 0.53, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The business's 50-day moving average price is $56.98 and its 200 day moving average price is $55.51. The company has a market cap of $52.64 billion, a PE ratio of 21.27, 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 $61.98.

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 for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). The firm had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $3.73 billion. Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%. The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, analysts expect that Dominion Energy Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

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