New York State Common Retirement Fund Cuts Stock Position in Dominion Energy Inc. $D

New York State Common Retirement Fund reduced its stake in Dominion Energy Inc. (NYSE:D) by 19.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 822,774 shares of the utilities provider’s stock after selling 202,100 shares during the quarter. New York State Common Retirement Fund’s holdings in Dominion Energy were worth $50,329,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of Dominion Energy by 64.3% during the 4th quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock worth $489,000 after purchasing an additional 3,553 shares during the last quarter. Empowered Funds LLC lifted its stake in Dominion Energy by 8.3% in the first quarter. Empowered Funds LLC now owns 17,571 shares of the utilities provider’s stock valued at $985,000 after purchasing an additional 1,344 shares during the last quarter. Woodline Partners LP grew its holdings in Dominion Energy by 40.7% during the first quarter. Woodline Partners LP now owns 70,968 shares of the utilities provider’s stock valued at $3,979,000 after purchasing an additional 20,522 shares during the period. Intech Investment Management LLC increased its position in Dominion Energy by 71.2% in the first quarter. Intech Investment Management LLC now owns 30,460 shares of the utilities provider’s stock worth $1,708,000 after buying an additional 12,663 shares during the last quarter. Finally, Institute for Wealth Management LLC. raised its stake in shares of Dominion Energy by 120.3% in the second quarter. Institute for Wealth Management LLC. now owns 9,100 shares of the utilities provider’s stock valued at $514,000 after buying an additional 4,970 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Dominion Energy from $67.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of Dominion Energy in a research report on Tuesday, October 28th. BMO Capital Markets reduced their target price on shares of Dominion Energy from $67.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. BTIG Research started coverage on shares of Dominion Energy in a research note on Wednesday, October 22nd. They set a “neutral” rating on the stock. Finally, Barclays cut their price objective on shares of Dominion Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Dominion Energy has a consensus rating of “Hold” and a consensus price target of $64.33.

Dominion Energy Trading Up 0.2%

Shares of Dominion Energy stock opened at $60.82 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.84 and a quick ratio of 0.65. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.87. The firm has a market cap of $51.94 billion, a PE ratio of 20.69, a PEG ratio of 1.64 and a beta of 0.72. The company has a 50 day simple moving average of $59.68 and a two-hundred day simple moving average of $59.98.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, October 31st. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.71 billion. Dominion Energy had a return on equity of 9.60% and a net margin of 16.17%.The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Analysts expect 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, March 20th. Stockholders of record on Friday, February 27th will be issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, February 27th. Dominion Energy’s payout ratio is presently 90.82%.

Dominion Energy Company Profile

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.