Spinnaker Trust Trims Holdings in Dominion Energy, Inc. (NYSE:D)

Spinnaker Trust trimmed its position in Dominion Energy, Inc. (NYSE:D) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,536 shares of the utilities provider’s stock after selling 970 shares during the period. Spinnaker Trust’s holdings in Dominion Energy were worth $213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Providence Capital Advisors LLC grew its holdings in Dominion Energy by 0.6% during the third quarter. Providence Capital Advisors LLC now owns 36,772 shares of the utilities provider’s stock worth $1,643,000 after acquiring an additional 228 shares during the period. Valmark Advisers Inc. grew its holdings in Dominion Energy by 3.9% during the third quarter. Valmark Advisers Inc. now owns 6,674 shares of the utilities provider’s stock worth $298,000 after acquiring an additional 250 shares during the period. Tyler Stone Wealth Management increased its stake in Dominion Energy by 6.3% in the 3rd quarter. Tyler Stone Wealth Management now owns 4,224 shares of the utilities provider’s stock worth $189,000 after purchasing an additional 250 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Dominion Energy by 11.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,455 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 259 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC increased its stake in Dominion Energy by 2.7% in the 3rd quarter. Commonwealth Retirement Investments LLC now owns 9,893 shares of the utilities provider’s stock worth $442,000 after purchasing an additional 260 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Stock Performance

Dominion Energy stock traded down $0.52 during trading hours on Friday, reaching $50.45. 3,477,143 shares of the company were exchanged, compared to its average volume of 3,882,772. The firm has a market cap of $42.26 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 3.43 and a beta of 0.61. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average of $48.17 and a 200 day moving average of $46.37. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $57.90.

Dominion Energy (NYSE:D) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.21 billion. Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 EPS. As a group, research analysts anticipate that Dominion Energy, Inc. will post 2.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Bank of America lifted their price target on Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Tuesday. Barclays dropped their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. BMO Capital Markets downgraded Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a report on Monday, March 11th. Scotiabank dropped their target price on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Mizuho lowered their price target on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.10.

Insiders Place Their Bets

In other Dominion Energy news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Dominion Energy news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph M. Rigby purchased 2,130 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $46.94 per share, with a total value of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The disclosure for this purchase can be found here. Company insiders own 0.14% of the company’s stock.

About Dominion Energy

Dominion Energy, Inc produces and distributes energy in the United States. It operates through three operating segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. The Dominion Energy Virginia segment generates, transmits, and distributes regulated electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.