Precedent Wealth Partners LLC Lowers Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Precedent Wealth Partners LLC cut its holdings in Dominion Energy, Inc. (NYSE:D) by 15.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,102 shares of the utilities provider’s stock after selling 1,985 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Dominion Energy were worth $598,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Roble Belko & Company Inc purchased a new stake in Dominion Energy during the 4th quarter worth approximately $27,000. Sanctuary Wealth Management L.L.C. acquired a new position in Dominion Energy in the 3rd quarter valued at $28,000. Frazier Financial Advisors LLC purchased a new position in Dominion Energy in the 3rd quarter valued at $32,000. Dunhill Financial LLC grew its holdings in shares of Dominion Energy by 601.2% during the third quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock worth $33,000 after buying an additional 487 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Dominion Energy by 282.4% in the third quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock valued at $35,000 after buying an additional 449 shares during the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

D has been the subject of several research reports. Barclays upped their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Scotiabank upped their price target on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Morgan Stanley started coverage on Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price objective on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a report on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.58.

Dominion Energy Price Performance

Dominion Energy stock opened at $53.48 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. The company has a market capitalization of $44.93 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.15 and a beta of 0.60. The company’s 50 day simple moving average is $55.20 and its 200-day simple moving average is $55.89. Dominion Energy, Inc. has a 1 year low of $43.53 and a 1 year high of $61.97.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Dominion Energy, Inc. will post 2.76 earnings per share for the current year.

Dominion Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.99%. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

About Dominion Energy

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.