Baird Financial Group Inc. Has $2.59 Million Holdings in Dominion Energy, Inc. (NYSE:D)

Baird Financial Group Inc. cut its position in shares of Dominion Energy, Inc. (NYSE:D) by 17.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,086 shares of the utilities provider’s stock after selling 10,189 shares during the quarter. Baird Financial Group Inc.’s holdings in Dominion Energy were worth $2,590,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Cape Investment Advisory Inc. grew its holdings in Dominion Energy by 175.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 300 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Dominion Energy by 450.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider’s stock worth $25,000 after buying an additional 378 shares during the period. BankPlus Trust Department acquired a new stake in Dominion Energy in the fourth quarter valued at approximately $26,000. Roble Belko & Company Inc bought a new stake in shares of Dominion Energy during the fourth quarter valued at approximately $27,000. Finally, Fairway Wealth LLC acquired a new position in shares of Dominion Energy during the fourth quarter worth approximately $27,000. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Price Performance

Dominion Energy stock opened at $55.10 on Monday. Dominion Energy, Inc. has a 52 week low of $47.99 and a 52 week high of $61.97. The company’s 50 day moving average price is $53.94 and its two-hundred day moving average price is $55.19. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The stock has a market cap of $46.99 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.22 and a beta of 0.57.

Dominion Energy (NYSE:D) last posted its earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter last year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts predict that Dominion Energy, Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.85%. Dominion Energy’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Argus upgraded shares of Dominion Energy to a “hold” rating in a research note on Tuesday, March 25th. Morgan Stanley boosted their target price on shares of Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. 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 report on Tuesday, April 8th. Finally, UBS Group raised their price target on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $58.75.

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.