State of New Jersey Common Pension Fund D Trims Stock Position in Dominion Energy Inc. (NYSE:D)

State of New Jersey Common Pension Fund D cut its stake in shares of Dominion Energy Inc. (NYSE:D) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 281,402 shares of the utilities provider’s stock after selling 25,023 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Dominion Energy were worth $15,778,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nuveen LLC bought a new position in shares of Dominion Energy during the first quarter valued at approximately $96,723,000. Vanguard Group Inc. boosted its stake in shares of Dominion Energy by 1.7% during the first quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider’s stock valued at $5,106,823,000 after purchasing an additional 1,565,459 shares in the last quarter. Zimmer Partners LP bought a new position in shares of Dominion Energy during the fourth quarter valued at approximately $72,269,000. Northern Trust Corp boosted its stake in shares of Dominion Energy by 16.7% during the fourth quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider’s stock valued at $501,759,000 after purchasing an additional 1,330,459 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Dominion Energy by 6,252.7% in the first quarter. GAMMA Investing LLC now owns 1,276,770 shares of the utilities provider’s stock valued at $71,588,000 after acquiring an additional 1,256,672 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Trading Down 0.1%

NYSE:D opened at $61.11 on Friday. Dominion Energy Inc. has a 12 month low of $48.07 and a 12 month high of $62.26. The firm has a fifty day simple moving average of $57.71 and a 200-day simple moving average of $55.85. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $52.15 billion, a P/E ratio of 21.07, a PEG ratio of 1.33 and a beta of 0.57.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts anticipate that Dominion Energy Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Investors of record on Friday, September 5th will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, September 5th. Dominion Energy’s dividend payout ratio (DPR) is 92.07%.

Wall Street Analysts Forecast Growth

D has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Dominion Energy from $53.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday, July 15th. Morgan Stanley lowered their target price on shares of Dominion Energy from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $59.14.

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.