Parcion Private Wealth LLC Reduces Stake in Dominion Energy, Inc. (NYSE:D)

Parcion Private Wealth LLC reduced its position in Dominion Energy, Inc. (NYSE:D) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,168 shares of the utilities provider’s stock after selling 528 shares during the period. Parcion Private Wealth LLC’s holdings in Dominion Energy were worth $498,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of D. Family Firm Inc. acquired a new stake in Dominion Energy during the 2nd quarter valued at $27,000. Rise Advisors LLC acquired a new stake in Dominion Energy during the 1st quarter valued at $30,000. LRI Investments LLC acquired a new stake in Dominion Energy during the 1st quarter valued at $32,000. Triad Wealth Partners LLC acquired a new stake in Dominion Energy during the 2nd quarter valued at $33,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Dominion Energy during the 2nd quarter valued at $35,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. JPMorgan Chase & Co. raised their price objective on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Scotiabank raised their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price objective on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Finally, Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $43.00 to $54.00 in a report on Friday, May 10th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.00.

Dominion Energy Trading Down 0.4 %

Dominion Energy stock traded down $0.23 during midday trading on Friday, reaching $57.11. The stock had a trading volume of 2,582,535 shares, compared to its average volume of 4,480,816. The stock’s 50-day simple moving average is $53.60 and its 200 day simple moving average is $51.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. Dominion Energy, Inc. has a twelve month low of $39.18 and a twelve month high of $58.13. The stock has a market capitalization of $47.91 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.54 and a beta of 0.60.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the company posted $0.53 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Analysts expect that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

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.