Wedge Capital Management L L P NC Has $12.47 Million Position in Dominion Energy, Inc. (NYSE:D)

Wedge Capital Management L L P NC reduced its stake in shares of Dominion Energy, Inc. (NYSE:D - Free Report) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,355 shares of the utilities provider's stock after selling 11,854 shares during the quarter. Wedge Capital Management L L P NC's holdings in Dominion Energy were worth $12,467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC lifted its stake in shares of Dominion Energy by 8.7% in the 1st quarter. Park Avenue Securities LLC now owns 25,621 shares of the utilities provider's stock valued at $1,437,000 after purchasing an additional 2,056 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Dominion Energy in the 1st quarter valued at approximately $301,000. Godsey & Gibb Inc. boosted its stake in Dominion Energy by 3.5% during the 1st quarter. Godsey & Gibb Inc. now owns 381,674 shares of the utilities provider's stock worth $21,400,000 after acquiring an additional 12,853 shares during the last quarter. Gateway Investment Advisers LLC bought a new stake in Dominion Energy in the first quarter valued at approximately $225,000. Finally, Sandbox Financial Partners LLC acquired a new stake in Dominion Energy in the first quarter worth $205,000. Institutional investors own 73.04% of the company's stock.

Dominion Energy Stock Up 0.5%

Dominion Energy stock traded up $0.29 during mid-day trading on Thursday, reaching $55.86. The company's stock had a trading volume of 4,954,972 shares, compared to its average volume of 4,565,080. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. Dominion Energy, Inc. has a 12 month low of $47.99 and a 12 month high of $61.97. The business's 50 day simple moving average is $54.48 and its 200 day simple moving average is $54.89. The company has a market capitalization of $47.64 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.22 and a beta of 0.56.

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 for the quarter, beating the consensus estimate of $0.82 by $0.11. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. The company had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter last year, the company earned $0.55 EPS. Dominion Energy's revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that Dominion Energy, Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.78%. The ex-dividend date is Thursday, May 29th. Dominion Energy's dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

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

Dominion Energy Company 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.