Cullen Capital Management LLC Trims Stock Position in Dominion Energy, Inc. (NYSE:D)

Cullen Capital Management LLC trimmed its holdings in Dominion Energy, Inc. (NYSE:D) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,985 shares of the utilities provider’s stock after selling 232 shares during the period. Cullen Capital Management LLC’s holdings in Dominion Energy were worth $430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Howard Capital Management Group LLC purchased a new position in shares of Dominion Energy in the 3rd quarter worth $210,000. Benjamin Edwards Inc. lifted its stake in shares of Dominion Energy by 4,587.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 15,468 shares of the utilities provider’s stock valued at $894,000 after purchasing an additional 15,138 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Dominion Energy by 34.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 208,063 shares of the utilities provider’s stock worth $12,024,000 after purchasing an additional 53,570 shares during the period. Quantinno Capital Management LP increased its position in Dominion Energy by 18.8% during the 3rd quarter. Quantinno Capital Management LP now owns 118,026 shares of the utilities provider’s stock worth $6,821,000 after purchasing an additional 18,636 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new position in Dominion Energy in the third quarter valued at approximately $980,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Down 6.1 %

D stock opened at $52.83 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The firm has a 50 day simple moving average of $55.31 and a 200-day simple moving average of $56.10. The company has a market capitalization of $45.02 billion, a P/E ratio of 19.57, a PEG ratio of 1.22 and a beta of 0.57. Dominion Energy, Inc. has a twelve month low of $46.62 and a twelve month high of $61.97.

Dominion Energy (NYSE:D) last released its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. On average, equities research analysts predict that Dominion Energy, Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date was Friday, February 28th. Dominion Energy’s dividend payout ratio is presently 98.89%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Argus raised Dominion Energy to a “hold” rating in a research report on Tuesday, March 25th. UBS Group upped their target price on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Scotiabank raised their target price on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Morgan Stanley upped their price target on Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Thirteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $57.58.

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.