Chesapeake Wealth Management Cuts Position in Dominion Energy, Inc. (NYSE:D)

Chesapeake Wealth Management cut its holdings in Dominion Energy, Inc. (NYSE:D) by 12.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,886 shares of the utilities provider’s stock after selling 668 shares during the quarter. Chesapeake Wealth Management’s holdings in Dominion Energy were worth $239,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of D. Family Firm Inc. bought a new stake in Dominion Energy in the second quarter worth $27,000. Rise Advisors LLC purchased a new position in shares of Dominion Energy during the 1st quarter worth about $30,000. LRI Investments LLC bought a new position in Dominion Energy during the 1st quarter valued at about $30,000. Triad Wealth Partners LLC purchased a new stake in Dominion Energy in the 2nd quarter worth about $33,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Dominion Energy during the second quarter valued at approximately $35,000. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Trading Up 0.8 %

NYSE:D opened at $57.93 on Friday. The firm has a 50-day simple moving average of $55.23 and a 200-day simple moving average of $51.95. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $58.94. The firm has a market cap of $48.60 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.57 and a beta of 0.60. 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 (NYSE:D) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. Dominion Energy’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Equities analysts anticipate that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Friday, August 30th. Dominion Energy’s payout ratio is currently 137.63%.

Analysts Set New Price Targets

D has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Dominion Energy in a research note on Friday. They set a “hold” rating and a $58.00 price target for the company. BMO Capital Markets boosted their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Scotiabank raised 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.50.

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.