Precedent Wealth Partners LLC Reduces Holdings in Dominion Energy Inc. (NYSE:D)

Precedent Wealth Partners LLC trimmed its stake in Dominion Energy Inc. (NYSE:D - Free Report) by 60.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,363 shares of the utilities provider's stock after selling 6,739 shares during the period. Precedent Wealth Partners LLC's holdings in Dominion Energy were worth $245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cape Investment Advisory Inc. lifted its holdings in shares of Dominion Energy by 175.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake 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 worth $25,000 after purchasing an additional 378 shares during the last quarter. BankPlus Trust Department bought a new stake in shares of Dominion Energy during the fourth quarter valued at approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Dominion Energy during the fourth quarter valued at approximately $27,000. Finally, Orion Capital Management LLC bought a new stake in shares of Dominion Energy during the fourth quarter valued at approximately $27,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of D stock traded down $0.89 on Tuesday, reaching $53.84. 11,059,241 shares of the company were exchanged, compared to its average volume of 4,602,583. The company has a market cap of $45.91 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 1.19 and a beta of 0.56. The business has a 50-day moving average price of $54.80 and a 200 day moving average price of $54.75. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.73. Dominion Energy Inc. has a 1 year low of $47.99 and a 1 year high of $61.97.

Dominion Energy (NYSE:D - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. Dominion Energy had a net margin of 15.55% and a return on equity of 9.51%. The company had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the prior year, the company earned $0.55 EPS. Dominion Energy's revenue was up 12.2% compared to the same quarter last year. Equities research analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be paid a dividend of $0.6675 per share. The ex-dividend date is Thursday, May 29th. This represents a $2.67 annualized dividend and a yield of 4.96%. Dominion Energy's dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on D shares. Argus raised shares of Dominion Energy to a "hold" rating in a report on Tuesday, March 25th. UBS Group lifted their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley lowered their price objective on shares of Dominion Energy from $63.00 to $62.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Dominion Energy has an average rating of "Hold" and an average target price of $58.63.

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.