Concord Wealth Partners Lowers Position in Dominion Energy, Inc. (NYSE:D)

Concord Wealth Partners lowered its stake in shares of Dominion Energy, Inc. (NYSE:D) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,088 shares of the utilities provider’s stock after selling 629 shares during the period. Concord Wealth Partners’ holdings in Dominion Energy were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in D. Diamond Hill Capital Management Inc. raised its position in shares of Dominion Energy by 5.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock worth $178,176,000 after buying an additional 199,629 shares during the period. Assenagon Asset Management S.A. increased its stake in Dominion Energy by 196.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock worth $18,451,000 after acquiring an additional 259,978 shares during the last quarter. Morgan Stanley raised its holdings in shares of Dominion Energy by 12.8% in the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after purchasing an additional 803,341 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Dominion Energy by 1,797.9% in the 4th quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock valued at $7,798,000 after purchasing an additional 157,175 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Dominion Energy by 97.3% during the 4th quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock worth $674,000 after purchasing an additional 7,071 shares during the period. Institutional investors and hedge funds own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on D shares. Scotiabank cut their price target on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Guggenheim reduced their target price on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, March 4th. StockNews.com downgraded Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Mizuho reduced their price objective on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Finally, Bank of America increased their target price on Dominion Energy from $40.00 to $43.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.10.

Insider Buying and Selling

In related news, Director Joseph M. Rigby bought 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, for a total transaction of $99,982.20. Following the purchase, the director now owns 8,417 shares in the company, valued at approximately $395,093.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Joseph M. Rigby bought 2,130 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $46.94 per share, for a total transaction of $99,982.20. Following the transaction, the director now owns 8,417 shares in the company, valued at $395,093.98. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert M. Blue purchased 21,735 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the completion of the transaction, the chief executive officer now owns 176,240 shares in the company, valued at approximately $8,091,178.40. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

Dominion Energy Trading Up 0.3 %

NYSE:D opened at $51.15 on Thursday. The stock has a market cap of $42.84 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $57.27. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.97 and a current ratio of 1.04. The business’s 50-day simple moving average is $48.48 and its 200 day simple moving average is $46.58.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $4.34 billion. Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. Dominion Energy’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. As a group, sell-side analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Profile

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.