Boltwood Capital Management reduced its stake in shares of Dominion Energy, Inc. (NYSE:D) by 7.9% during the 1st quarter, HoldingsChannel reports. The fund owned 12,715 shares of the utilities provider’s stock after selling 1,089 shares during the period. Boltwood Capital Management’s holdings in Dominion Energy were worth $966,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Sterling Financial Planning Inc. purchased a new stake in shares of Dominion Energy in the fourth quarter valued at approximately $29,000. Sittner & Nelson LLC purchased a new stake in shares of Dominion Energy in the fourth quarter valued at approximately $30,000. Reby Advisors LLC purchased a new stake in shares of Dominion Energy in the fourth quarter valued at approximately $31,000. American Research & Management Co. boosted its holdings in shares of Dominion Energy by 180.7% in the fourth quarter. American Research & Management Co. now owns 466 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 300 shares during the period. Finally, Key Financial Inc purchased a new stake in shares of Dominion Energy in the fourth quarter valued at approximately $37,000. 67.06% of the stock is currently owned by institutional investors.
In other news, Director Mark J. Kington bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 4th. The shares were purchased at an average cost of $69.29 per share, with a total value of $138,580.00. 0.26% of the stock is owned by corporate insiders.
Dominion Energy (NYSE:D) last released its earnings results on Thursday, February 11th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. Dominion Energy had a return on equity of 12.19% and a net margin of 0.10%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the firm earned $1.18 EPS. The firm’s revenue was down 9.6% on a year-over-year basis. Equities research analysts predict that Dominion Energy, Inc. will post 3.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 20th. Investors of record on Friday, March 5th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Thursday, March 4th. Dominion Energy’s payout ratio is 59.43%.
A number of analysts have weighed in on the company. UBS Group upgraded Dominion Energy from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $88.00 to $83.00 in a report on Wednesday, December 16th. Zacks Investment Research lowered Dominion Energy from a “hold” rating to a “sell” rating and set a $80.00 target price for the company. in a report on Wednesday. Wells Fargo & Company upgraded Dominion Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $80.00 to $83.00 in a report on Tuesday, January 26th. Bank of America upgraded Dominion Energy from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $88.00 to $83.00 in a report on Wednesday, December 16th. Finally, Credit Suisse Group lowered their target price on Dominion Energy from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Dominion Energy presently has a consensus rating of “Buy” and a consensus price target of $83.00.
Dominion Energy Profile
Dominion Energy, Inc produces and distributes energy. The company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina, and Contracted Assets. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
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