Zions Bancorporation N.A. Decreases Stock Position in Dominion Energy, Inc. (NYSE:D)

Zions Bancorporation N.A. decreased its holdings in Dominion Energy, Inc. (NYSE:D) by 18.5% in the second quarter, Holdings Channel reports. The firm owned 108,722 shares of the utilities provider’s stock after selling 24,615 shares during the quarter. Zions Bancorporation N.A.’s holdings in Dominion Energy were worth $5,327,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Family Firm Inc. purchased a new position in Dominion Energy in the 2nd quarter worth about $27,000. Rise Advisors LLC bought a new position in Dominion Energy during the first quarter valued at approximately $30,000. LRI Investments LLC bought a new position in Dominion Energy during the first quarter valued at approximately $32,000. Triad Wealth Partners LLC bought a new stake in Dominion Energy in the 2nd quarter worth approximately $33,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Dominion Energy during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on D shares. BMO Capital Markets lifted their price objective on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, Scotiabank upped their target price on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.00.

Dominion Energy Stock Performance

D opened at $57.17 on Friday. The firm has a market cap of $47.96 billion, a P/E ratio of 29.47, a PEG ratio of 1.53 and a beta of 0.60. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $58.13. The company has a 50 day simple moving average of $54.29 and a two-hundred day simple moving average of $51.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Equities analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.67 annualized dividend and a yield of 4.67%. Dominion Energy’s payout ratio is 137.63%.

Dominion Energy Company 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.