Magellan Asset Management Ltd Sells 238,696 Shares of Dominion Energy, Inc. (NYSE:D)

Magellan Asset Management Ltd decreased its position in shares of Dominion Energy, Inc. (NYSE:D - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,955,452 shares of the utilities provider's stock after selling 238,696 shares during the period. Dominion Energy accounts for approximately 2.3% of Magellan Asset Management Ltd's portfolio, making the stock its 19th biggest position. Magellan Asset Management Ltd owned about 0.47% of Dominion Energy worth $213,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cape Investment Advisory Inc. raised its holdings in Dominion Energy by 175.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider's stock valued at $25,000 after buying an additional 300 shares in the last quarter. BankPlus Trust Department acquired a new stake in Dominion Energy in the 4th quarter worth approximately $26,000. Roble Belko & Company Inc acquired a new position in Dominion Energy during the fourth quarter valued at approximately $27,000. Fairway Wealth LLC acquired a new stake in shares of Dominion Energy in the fourth quarter worth $27,000. Finally, CBIZ Investment Advisory Services LLC raised its holdings in Dominion Energy by 100.4% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 519 shares of the utilities provider's stock worth $28,000 after acquiring an additional 260 shares during the period. Hedge funds and other institutional investors own 73.04% of the company's stock.

Dominion Energy Price Performance

Shares of NYSE D traded up $0.03 during mid-day trading on Tuesday, hitting $50.86. 3,074,044 shares of the stock were exchanged, compared to its average volume of 4,257,344. The company has a market cap of $43.34 billion, a P/E ratio of 18.82, a PEG ratio of 1.22 and a beta of 0.57. Dominion Energy, Inc. has a twelve month low of $46.62 and a twelve month high of $61.97. The stock's fifty day simple moving average is $55.21 and its two-hundred day simple moving average is $56.04. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74.

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Dominion Energy (NYSE:D - Get Free Report) last announced its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.04. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. As a group, analysts forecast that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend was Friday, February 28th. Dominion Energy's payout ratio is 98.89%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on D shares. UBS Group raised their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Argus raised shares of Dominion Energy to a "hold" rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $52.00 target price (down from $59.00) on shares of Dominion Energy in a research report on Tuesday. Morgan Stanley raised their price objective on Dominion Energy from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Finally, Scotiabank boosted their price objective 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. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $57.00.

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.