Vestcor Inc Sells 4,822 Shares of Dominion Energy Inc. (NYSE:D)

Key Points

• Vestcor Inc has decreased its holdings in Dominion Energy Inc. by 12.3%, selling 4,822 shares, leaving it with a total of 34,261 shares valued at approximately $1.92 million.
• Several other institutional investors have adjusted their positions in Dominion Energy, with some, like Farther Finance Advisors LLC, increasing their stakes significantly by as much as 114.8%.
• Dominion Energy recently announced a quarterly dividend of $0.6675, reflecting a dividend yield of 4.6%, with a payout ratio currently at 100%.

Vestcor Inc lowered its position in Dominion Energy Inc. (NYSE:D - Free Report) by 12.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,261 shares of the utilities provider's stock after selling 4,822 shares during the period. Vestcor Inc's holdings in Dominion Energy were worth $1,921,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sowell Financial Services LLC bought a new position in Dominion Energy during the 1st quarter valued at approximately $314,000. QRG Capital Management Inc. increased its position in Dominion Energy by 13.8% during the 1st quarter. QRG Capital Management Inc. now owns 8,971 shares of the utilities provider's stock valued at $503,000 after buying an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC increased its position in Dominion Energy by 114.8% during the 1st quarter. Farther Finance Advisors LLC now owns 12,089 shares of the utilities provider's stock valued at $680,000 after buying an additional 6,462 shares in the last quarter. Bessemer Group Inc. increased its position in Dominion Energy by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 9,394 shares of the utilities provider's stock valued at $527,000 after buying an additional 616 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Dominion Energy by 222.7% during the 1st quarter. Golden State Wealth Management LLC now owns 910 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 628 shares during the last quarter. Institutional investors own 73.04% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on 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 cut 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 given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $58.88.

Dominion Energy Stock Performance

D stock opened at $58.47 on Friday. The company has a market cap of $49.86 billion, a P/E ratio of 21.90, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.53. The stock's fifty day moving average price is $56.61 and its 200-day moving average price is $55.33.

Dominion Energy (NYSE:D - Get Free Report) last released 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. The firm 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%. The company's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. On average, equities analysts forecast that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 20th. Stockholders of record on Friday, September 5th will be paid a $0.6675 dividend. 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 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.

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