Welch Group LLC Lowers Holdings in Dominion Energy, Inc. (NYSE:D)

Welch Group LLC trimmed its holdings in Dominion Energy, Inc. (NYSE:D) by 4.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 7,361 shares of the utilities provider’s stock after selling 305 shares during the period. Welch Group LLC’s holdings in Dominion Energy were worth $405,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cape Investment Advisory Inc. raised its holdings in shares of Dominion Energy by 175.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Dominion Energy by 450.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 462 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 378 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Dominion Energy during the 4th quarter worth approximately $26,000. Fairway Wealth LLC purchased a new stake in shares of Dominion Energy during the 4th quarter worth approximately $27,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Dominion Energy during the 4th quarter worth approximately $27,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 0.2%

D opened at $56.01 on Friday. The stock has a market cap of $47.76 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 1.22 and a beta of 0.57. The stock’s 50 day moving average price is $54.26 and its 200-day moving average price is $54.98. Dominion Energy, Inc. has a one year low of $47.99 and a one year high of $61.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, May 1st. The utilities provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts forecast that Dominion Energy, Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.6675 per share. The ex-dividend date is Thursday, May 29th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.77%. Dominion Energy’s dividend payout ratio is 100.00%.

Analysts Set New Price Targets

Several brokerages have weighed in on D. UBS Group boosted their price objective on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Morgan Stanley reduced their price objective on Dominion Energy from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 22nd. Argus raised Dominion Energy to a “hold” rating in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $52.00 price objective (down from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.63.

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.