Cullinan Associates Inc. Sells 1,700 Shares of Dominion Energy, Inc. (NYSE:D)

Cullinan Associates Inc. lessened its position in shares of Dominion Energy, Inc. (NYSE:D) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,378 shares of the utilities provider’s stock after selling 1,700 shares during the quarter. Cullinan Associates Inc.’s holdings in Dominion Energy were worth $1,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of D. Assenagon Asset Management S.A. boosted its position in shares of Dominion Energy by 196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock worth $18,451,000 after purchasing an additional 259,978 shares in the last quarter. Morgan Stanley boosted its holdings in Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after acquiring an additional 803,341 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Dominion Energy by 1,797.9% during the fourth quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock valued at $7,798,000 after acquiring an additional 157,175 shares in the last quarter. Diversified Trust Co raised its position in shares of Dominion Energy by 97.3% in the 4th quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock valued at $674,000 after purchasing an additional 7,071 shares during the last quarter. Finally, Sapient Capital LLC acquired a new stake in Dominion Energy in the 4th quarter worth approximately $263,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Analysts Set New Price Targets

D has been the subject of a number of research analyst reports. StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Bank of America raised shares of Dominion Energy from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $43.00 to $54.00 in a report on Friday, May 10th. Barclays lowered their price objective on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Wells Fargo & Company raised their target price on Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Mizuho increased their price target on Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.73.

Dominion Energy Stock Up 1.1 %

D stock opened at $48.54 on Wednesday. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 1.31 and a beta of 0.59. The firm has a 50-day moving average of $51.58 and a two-hundred day moving average of $48.73. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $54.74. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 1.37.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. As a group, analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend was Friday, May 31st. Dominion Energy’s payout ratio is 137.63%.

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.