Gabelli Funds LLC Sells 9,800 Shares of Dominion Energy, Inc. (NYSE:D)

Gabelli Funds LLC reduced its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 442,500 shares of the utilities provider’s stock after selling 9,800 shares during the period. Gabelli Funds LLC owned 0.05% of Dominion Energy worth $21,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Family Firm Inc. bought a new position in Dominion Energy during the second quarter worth $27,000. Rise Advisors LLC acquired a new stake in shares of Dominion Energy in the 1st quarter valued at about $30,000. LRI Investments LLC bought a new stake in Dominion Energy in the 1st quarter valued at about $30,000. Triad Wealth Partners LLC acquired a new position in Dominion Energy during the 2nd quarter worth approximately $33,000. Finally, Opal Wealth Advisors LLC bought a new position in Dominion Energy in the second quarter worth approximately $35,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on D. Scotiabank upped their target price on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets raised their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group initiated coverage on shares of Dominion Energy in a research report on Friday. They issued a “hold” rating and a $58.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Dominion Energy currently has an average rating of “Hold” and a consensus target price of $54.50.

Dominion Energy Trading Up 0.8 %

Shares of D stock opened at $57.93 on Monday. 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 market capitalization of $48.52 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.57 and a beta of 0.60. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $58.94. The company has a 50-day simple moving average of $55.23 and a two-hundred day simple moving average of $52.02.

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

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, August 30th. Dominion Energy’s dividend payout ratio (DPR) 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.