Linscomb Wealth Inc. Has $701,000 Stake in Dominion Energy, Inc. (NYSE:D)

Linscomb Wealth Inc. trimmed its position in shares of Dominion Energy, Inc. (NYSE:D) by 2.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,255 shares of the utilities provider’s stock after selling 348 shares during the quarter. Linscomb Wealth Inc.’s holdings in Dominion Energy were worth $701,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Dominion Energy by 16.0% during the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after purchasing an additional 12,178,713 shares during the period. Capital Research Global Investors raised its position in Dominion Energy by 20.1% in the 1st quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock valued at $1,061,740,000 after buying an additional 3,613,614 shares during the last quarter. Wellington Management Group LLP raised its position in Dominion Energy by 13.2% in the 4th quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock valued at $869,184,000 after buying an additional 2,153,488 shares during the last quarter. Federated Hermes Inc. raised its position in Dominion Energy by 1.0% in the 4th quarter. Federated Hermes Inc. now owns 7,612,107 shares of the utilities provider’s stock valued at $357,769,000 after buying an additional 75,600 shares during the last quarter. Finally, Norges Bank purchased a new stake in Dominion Energy in the 4th quarter valued at $329,792,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on D shares. Scotiabank lowered their price target on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Mizuho raised their target price on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. BMO Capital Markets decreased their target price on Dominion Energy from $52.00 to $51.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $43.00 to $54.00 in a research report on Friday, May 10th. Finally, Evercore ISI raised their target price on Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.64.

Dominion Energy Price Performance

Shares of NYSE:D traded up $0.40 on Friday, hitting $52.70. The company’s stock had a trading volume of 2,994,129 shares, compared to its average volume of 3,121,377. The company has a 50-day simple moving average of $51.15 and a 200 day simple moving average of $49.13. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $54.30. The company has a market capitalization of $44.14 billion, a PE ratio of 27.17, a PEG ratio of 1.40 and a beta of 0.58. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. Sell-side analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.07%. Dominion Energy’s dividend payout ratio is 137.63%.

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.