Quent Capital LLC Cuts Stake in Dominion Energy, Inc. (NYSE:D)

Quent Capital LLC lowered its stake in shares of Dominion Energy, Inc. (NYSE:D) by 9.8% in the first quarter, Holdings Channel reports. The firm owned 2,805 shares of the utilities provider’s stock after selling 305 shares during the period. Quent Capital LLC’s holdings in Dominion Energy were worth $157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of D. Norges Bank purchased a new stake in shares of Dominion Energy during the fourth quarter worth about $473,354,000. American Century Companies Inc. increased its stake in shares of Dominion Energy by 207.7% during the fourth quarter. American Century Companies Inc. now owns 3,763,898 shares of the utilities provider’s stock worth $202,724,000 after purchasing an additional 2,540,713 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Dominion Energy by 8,585.3% during the fourth quarter. Marshall Wace LLP now owns 2,210,322 shares of the utilities provider’s stock worth $119,048,000 after purchasing an additional 2,184,873 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Dominion Energy by 4.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock worth $1,667,540,000 after purchasing an additional 1,459,926 shares in the last quarter. Finally, Zimmer Partners LP purchased a new stake in shares of Dominion Energy during the fourth quarter worth about $72,269,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Performance

Dominion Energy stock opened at $56.60 on Friday. The firm has a 50 day simple moving average of $54.33 and a 200-day simple moving average of $54.98. Dominion Energy, Inc. has a 1-year low of $47.99 and a 1-year high of $61.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. The stock has a market cap of $48.27 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57.

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

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.72%. Dominion Energy’s dividend payout ratio (DPR) is 100.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on D shares. Morgan Stanley cut their target price on shares of Dominion Energy from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, May 22nd. UBS Group upped their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $52.00 price objective (down previously from $59.00) on shares of Dominion Energy in a research note on Tuesday, April 8th. Finally, Argus raised shares of Dominion Energy to a “hold” rating in a research note on Tuesday, March 25th. One equities research 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. According to data from MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and a consensus price target of $58.63.

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.