RWC Asset Management LLP Decreases Stock Position in Dominion Energy Inc. (NYSE:D)

Key Points

• RWC Asset Management LLP reduced its stake in Dominion Energy by 16.1%, selling 93,796 shares and owning a total of 488,248 shares at the end of the quarter.
• Analysts have issued mixed reviews for Dominion Energy, with JPMorgan Chase raising the price target to $56.00 while Morgan Stanley lowered it to $60.00.
• The company declared a quarterly dividend of $0.6675 per share, reflecting a yield of 4.54% and a payout ratio of 100%.

RWC Asset Management LLP cut its holdings in shares of Dominion Energy Inc. (NYSE:D - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 488,248 shares of the utilities provider's stock after selling 93,796 shares during the quarter. Dominion Energy accounts for approximately 1.4% of RWC Asset Management LLP's holdings, making the stock its 19th biggest holding. RWC Asset Management LLP owned approximately 0.06% of Dominion Energy worth $27,376,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cadence Bank raised its stake in Dominion Energy by 2.0% during the fourth quarter. Cadence Bank now owns 9,561 shares of the utilities provider's stock valued at $515,000 after buying an additional 189 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of Dominion Energy by 3.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,022 shares of the utilities provider's stock valued at $338,000 after buying an additional 193 shares during the last quarter. Centre Asset Management LLC boosted its holdings in shares of Dominion Energy by 3.3% during the 1st quarter. Centre Asset Management LLC now owns 6,251 shares of the utilities provider's stock valued at $350,000 after acquiring 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 raised its stake in Dominion Energy by 4.6% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,688 shares of the utilities provider's stock valued at $263,000 after buying an additional 208 shares during the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $53.00 to $56.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Morgan Stanley decreased their target price on Dominion Energy from $62.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $58.88.

Dominion Energy Price Performance

Shares of Dominion Energy stock traded down $0.02 during trading hours on Thursday, reaching $58.23. The stock had a trading volume of 4,241,732 shares, compared to its average volume of 5,300,658. The firm has a market capitalization of $49.66 billion, a PE ratio of 21.78, a PEG ratio of 1.27 and a beta of 0.56. Dominion Energy Inc. has a twelve month low of $48.07 and a twelve month high of $61.97. The stock's 50 day moving average is $56.56 and its 200 day moving average is $55.29. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Dominion Energy (NYSE:D - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.11. Dominion Energy had a return on equity of 9.51% and a net margin of 15.55%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The business's revenue was up 12.2% on a year-over-year basis. Equities analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 4.58%. Dominion Energy's dividend payout ratio is currently 100.00%.

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.