Iberiabank Corp Cuts Stake in Dominion Energy Inc (NYSE:D)

Iberiabank Corp cut its stake in Dominion Energy Inc (NYSE:D) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,251 shares of the utilities provider’s stock after selling 316 shares during the quarter. Iberiabank Corp’s holdings in Dominion Energy were worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Dominion Energy by 3.8% during the first quarter. BlackRock Inc. now owns 60,458,867 shares of the utilities provider’s stock worth $4,364,524,000 after acquiring an additional 2,186,966 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Dominion Energy by 27.5% in the 1st quarter. Nuveen Asset Management LLC now owns 6,647,232 shares of the utilities provider’s stock worth $479,864,000 after purchasing an additional 1,435,234 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Dominion Energy by 3.0% during the 1st quarter. Wellington Management Group LLP now owns 30,599,455 shares of the utilities provider’s stock worth $2,208,975,000 after purchasing an additional 892,983 shares during the last quarter. Pictet Asset Management Ltd. grew its position in shares of Dominion Energy by 16.3% in the first quarter. Pictet Asset Management Ltd. now owns 5,731,567 shares of the utilities provider’s stock valued at $413,762,000 after purchasing an additional 804,289 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Dominion Energy by 49.7% in the first quarter. APG Asset Management N.V. now owns 2,164,176 shares of the utilities provider’s stock valued at $156,232,000 after purchasing an additional 718,882 shares in the last quarter. Institutional investors own 66.38% of the company’s stock.

D has been the subject of several analyst reports. Wolfe Research upgraded Dominion Energy from a “peer perform” rating to an “outperform” rating and upped their target price for the company from $78.00 to $80.00 in a report on Monday, July 13th. Argus dropped their price objective on shares of Dominion Energy from $87.00 to $80.00 in a report on Tuesday, July 7th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Dominion Energy in a research note on Friday. Seaport Global Securities began coverage on shares of Dominion Energy in a research note on Tuesday, June 9th. They issued a “buy” rating and a $93.00 price target for the company. Finally, Mizuho lowered shares of Dominion Energy from a “neutral” rating to an “underperform” rating and set a $68.00 price target on the stock. in a research report on Tuesday, July 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $82.06.

Shares of NYSE D opened at $81.03 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.63 and a quick ratio of 0.47. Dominion Energy Inc has a 1-year low of $57.79 and a 1-year high of $90.89. The company has a market capitalization of $68.00 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 7.45 and a beta of 0.42. The business has a 50-day moving average of $79.88 and a 200-day moving average of $80.54.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.99 billion. Dominion Energy had a net margin of 10.80% and a return on equity of 11.97%. Dominion Energy’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. Research analysts expect that Dominion Energy Inc will post 3.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 20th. Shareholders of record on Friday, September 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.64%. Dominion Energy’s payout ratio is currently 88.68%.

Dominion Energy Company Profile

Dominion Energy, Inc produces and transports energy. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities.

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Institutional Ownership by Quarter for Dominion Energy (NYSE:D)

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