Spire Wealth Management Cuts Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Spire Wealth Management trimmed its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 30.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,484 shares of the utilities provider’s stock after selling 6,385 shares during the period. Spire Wealth Management’s holdings in Dominion Energy were worth $710,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in D. Vanguard Group Inc. boosted its holdings in shares of Dominion Energy by 16.0% during the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after purchasing an additional 12,178,713 shares during the period. Capital Research Global Investors boosted its holdings in shares of Dominion Energy by 136.5% during the fourth quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after purchasing an additional 10,370,768 shares during the period. Norges Bank purchased a new stake in shares of Dominion Energy during the fourth quarter worth about $329,792,000. ClearBridge Investments Ltd purchased a new stake in shares of Dominion Energy during the fourth quarter worth about $214,220,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Dominion Energy by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock worth $1,204,904,000 after purchasing an additional 2,801,687 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dominion Energy Price Performance

Shares of NYSE D opened at $55.90 on Monday. The company has a market capitalization of $46.90 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 1.49 and a beta of 0.58. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93. The company has a 50 day simple moving average of $52.85 and a two-hundred day simple moving average of $50.87. Dominion Energy, Inc. has a fifty-two week low of $39.18 and a fifty-two week high of $57.60.

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

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, August 30th. Dominion Energy’s dividend payout ratio is currently 137.63%.

Dominion Energy 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.