Elo Mutual Pension Insurance Co Trims Stock Position in Dominion Energy, Inc. (NYSE:D)

Elo Mutual Pension Insurance Co decreased its holdings in Dominion Energy, Inc. (NYSE:D) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,830 shares of the utilities provider’s stock after selling 630 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Dominion Energy were worth $3,716,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Dominion Energy by 16.0% in the first quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after buying an additional 12,178,713 shares during the period. Capital Research Global Investors increased its holdings in Dominion Energy by 136.5% in the 4th quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after acquiring an additional 10,370,768 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Dominion Energy by 12.9% during the 1st 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 acquiring an additional 2,801,687 shares during the period. Wellington Management Group LLP lifted its holdings in Dominion Energy by 13.2% during the fourth quarter. Wellington Management Group LLP now owns 18,493,273 shares of the utilities provider’s stock valued at $869,184,000 after purchasing an additional 2,153,488 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Dominion Energy in the second quarter worth approximately $67,854,000. 73.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on D. JPMorgan Chase & Co. raised 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. BMO Capital Markets raised their price target on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Finally, Scotiabank upped their price objective on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.11.

Dominion Energy Price Performance

NYSE:D opened at $57.41 on Thursday. The business’s 50-day moving average is $54.99 and its 200 day moving average is $51.83. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $58.94. The company has a market capitalization of $48.16 billion, a P/E ratio of 29.59, a P/E/G ratio of 1.57 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last issued its quarterly earnings data 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 return on equity of 7.69% and a net margin of 11.63%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.65%. Dominion Energy’s payout ratio is currently 137.63%.

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.