State of New Jersey Common Pension Fund D Sells 200,000 Shares of Dominion Energy Inc. (D)
State of New Jersey Common Pension Fund D reduced its stake in shares of Dominion Energy Inc. (NYSE:D) by 20.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 785,000 shares of the utilities provider’s stock after selling 200,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.12% of Dominion Energy worth $60,155,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tradewinds Capital Management LLC raised its position in Dominion Energy by 1.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,306 shares of the utilities provider’s stock valued at $101,000 after buying an additional 13 shares during the last quarter. Enterprise Financial Services Corp raised its position in Dominion Energy by 62.6% in the first quarter. Enterprise Financial Services Corp now owns 1,376 shares of the utilities provider’s stock valued at $107,000 after buying an additional 530 shares during the last quarter. Clean Yield Group purchased a new position in Dominion Energy during the first quarter valued at $117,000. Bollard Group LLC raised its position in Dominion Energy by 0.8% in the second quarter. Bollard Group LLC now owns 1,528 shares of the utilities provider’s stock valued at $117,000 after buying an additional 12 shares during the last quarter. Finally, Advantage Investment Management LLC raised its position in Dominion Energy by 247.7% in the first quarter. Advantage Investment Management LLC now owns 1,582 shares of the utilities provider’s stock valued at $123,000 after buying an additional 1,127 shares during the last quarter. 64.48% of the stock is currently owned by institutional investors.
Shares of Dominion Energy Inc. (NYSE:D) opened at 78.77 on Friday. Dominion Energy Inc. has a one year low of $69.51 and a one year high of $81.65. The firm has a market capitalization of $50.62 billion, a P/E ratio of 22.80 and a beta of 0.28. The firm’s 50-day moving average is $77.92 and its 200 day moving average is $77.74.
Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Dominion Energy had a return on equity of 14.04% and a net margin of 17.48%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Dominion Energy Inc. will post $3.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, September 1st will be paid a $0.755 dividend. This represents a $3.02 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, August 30th. Dominion Energy’s dividend payout ratio is currently 87.28%.
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Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Dominion Energy from a “hold” rating to a “sell” rating in a research note on Monday, June 12th. BidaskClub lowered shares of Dominion Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Citigroup Inc. reduced their price objective on shares of Dominion Energy from $78.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 26th. Royal Bank Of Canada reissued a “hold” rating and set a $77.00 price objective on shares of Dominion Energy in a research note on Monday, August 21st. Finally, Deutsche Bank AG lifted their price objective on shares of Dominion Energy from $76.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $80.57.
Dominion Energy Company Profile
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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