Spinnaker Trust Has $347,000 Stake in Dominion Energy Inc. (D)
Spinnaker Trust cut its stake in Dominion Energy Inc. (NYSE:D) by 13.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,525 shares of the utilities provider’s stock after selling 704 shares during the period. Spinnaker Trust’s holdings in Dominion Energy were worth $347,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Dominion Energy by 3,615.9% in the first quarter. BlackRock Inc. now owns 45,518,516 shares of the utilities provider’s stock worth $3,530,873,000 after buying an additional 44,293,566 shares during the period. Vanguard Group Inc. increased its stake in shares of Dominion Energy by 3.4% in the first quarter. Vanguard Group Inc. now owns 43,602,368 shares of the utilities provider’s stock worth $3,382,237,000 after buying an additional 1,435,767 shares during the period. Wellington Management Group LLP increased its stake in shares of Dominion Energy by 2.7% in the first quarter. Wellington Management Group LLP now owns 30,572,031 shares of the utilities provider’s stock worth $2,371,472,000 after buying an additional 790,484 shares during the period. Geode Capital Management LLC increased its stake in shares of Dominion Energy by 7.7% in the first quarter. Geode Capital Management LLC now owns 5,843,417 shares of the utilities provider’s stock worth $452,596,000 after buying an additional 420,250 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Dominion Energy by 24.0% in the first quarter. Wells Fargo & Company MN now owns 4,900,432 shares of the utilities provider’s stock worth $380,127,000 after buying an additional 949,647 shares during the period. Institutional investors and hedge funds own 64.48% of the company’s stock.
Shares of Dominion Energy Inc. (NYSE:D) opened at 80.24 on Wednesday. Dominion Energy Inc. has a 52-week low of $69.51 and a 52-week high of $81.65. The company has a 50-day moving average price of $77.53 and a 200-day moving average price of $77.55. The company has a market cap of $51.56 billion, a P/E ratio of 23.22 and a beta of 0.28.
Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.94 billion. Dominion Energy had a return on equity of 14.04% and a net margin of 17.48%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. On average, equities analysts predict that Dominion Energy Inc. will post $3.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 1st will be given a $0.755 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.76%. Dominion Energy’s dividend payout ratio (DPR) is presently 87.28%.
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A number of analysts have recently issued reports on D shares. Zacks Investment Research upgraded Dominion Energy from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, July 11th. Morgan Stanley dropped their price target on Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Monday, May 8th. Royal Bank Of Canada set a $77.00 price target on Dominion Energy and gave the company a “hold” rating in a research report on Saturday, June 3rd. BidaskClub downgraded Dominion Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Deutsche Bank AG lifted their price target on Dominion Energy from $76.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $80.57.
About Dominion Energy
Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.
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