Bank of Nova Scotia lowered its position in shares of Dominion Energy Inc (NYSE:D) by 27.6% in the second quarter, HoldingsChannel.com reports. The firm owned 71,547 shares of the utilities provider’s stock after selling 27,304 shares during the period. Bank of Nova Scotia’s holdings in Dominion Energy were worth $4,878,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of D. Rothschild Investment Corp IL acquired a new position in Dominion Energy during the 2nd quarter worth approximately $5,195,000. Independent Advisor Alliance lifted its position in Dominion Energy by 12.2% during the 2nd quarter. Independent Advisor Alliance now owns 40,595 shares of the utilities provider’s stock worth $2,607,000 after acquiring an additional 4,427 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Dominion Energy by 25.7% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 48,020 shares of the utilities provider’s stock worth $3,274,000 after acquiring an additional 9,813 shares in the last quarter. Northstar Investment Advisors LLC lifted its position in Dominion Energy by 25.7% during the 2nd quarter. Northstar Investment Advisors LLC now owns 122,520 shares of the utilities provider’s stock worth $8,353,000 after acquiring an additional 25,055 shares in the last quarter. Finally, Twin Tree Management LP lifted its position in Dominion Energy by 20.4% during the 2nd quarter. Twin Tree Management LP now owns 59,813 shares of the utilities provider’s stock worth $4,078,000 after acquiring an additional 10,117 shares in the last quarter. Institutional investors and hedge funds own 67.26% of the company’s stock.

Shares of D opened at $70.85 on Monday. Dominion Energy Inc has a 52-week low of $61.53 and a 52-week high of $85.30. The company has a market capitalization of $46.32 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.83 and a beta of 0.26. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 1.60.

Dominion Energy (NYSE:D) last announced its earnings results on Wednesday, August 1st. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.07. Dominion Energy had a return on equity of 13.13% and a net margin of 23.69%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the company posted $0.67 EPS. Dominion Energy’s quarterly revenue was up 9.8% on a year-over-year basis. sell-side analysts expect that Dominion Energy Inc will post 4.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Friday, September 7th were given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Thursday, September 6th. Dominion Energy’s dividend payout ratio is currently 92.78%.

A number of brokerages have issued reports on D. Zacks Investment Research lowered Dominion Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Howard Weil began coverage on Dominion Energy in a research report on Tuesday, July 24th. They issued a “sector perform” rating on the stock. Scotiabank began coverage on Dominion Energy in a research report on Tuesday, July 24th. They issued a “hold” rating and a $167.00 target price on the stock. Wells Fargo & Co reaffirmed a “hold” rating and issued a $76.00 target price (up from $73.00) on shares of Dominion Energy in a research report on Monday, September 17th. Finally, JPMorgan Chase & Co. cut their target price on Dominion Energy from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Thursday, June 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $84.82.

In other news, Director John W. Harris purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were acquired at an average cost of $71.15 per share, with a total value of $711,500.00. Following the transaction, the director now owns 17,495 shares in the company, valued at approximately $1,244,769.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

Dominion Energy Profile

Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.

Further Reading: Book Value Per Share in Stock Trading

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Institutional Ownership by Quarter for Dominion Energy (NYSE:D)

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