Mirae Asset Global Investments Co. Ltd. Cuts Stake in Dominion Energy, Inc. (NYSE:D)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Dominion Energy, Inc. (NYSE:D) by 10.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 129,038 shares of the utilities provider’s stock after selling 15,469 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Dominion Energy were worth $6,065,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Dominion Energy by 631.2% in the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after purchasing an additional 14,105,237 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Dominion Energy by 93,554.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,865,509 shares of the utilities provider’s stock worth $604,953,000 after purchasing an additional 9,854,975 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Dominion Energy by 50.4% in the first quarter. JPMorgan Chase & Co. now owns 17,980,124 shares of the utilities provider’s stock worth $1,005,266,000 after purchasing an additional 6,028,220 shares during the last quarter. Norges Bank purchased a new stake in Dominion Energy in the fourth quarter worth approximately $332,276,000. Finally, Magellan Asset Management Ltd boosted its stake in Dominion Energy by 53.1% in the third quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock worth $199,800,000 after buying an additional 1,551,611 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on D shares. Scotiabank cut their target price on Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. Wells Fargo & Company increased their price objective on Dominion Energy from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. BMO Capital Markets lowered Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Monday, March 11th. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Finally, Guggenheim dropped their price objective on Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Dominion Energy has a consensus rating of “Hold” and a consensus price target of $49.90.

Dominion Energy Stock Down 0.2 %

NYSE D opened at $48.91 on Monday. The stock’s 50 day moving average is $47.24 and its 200 day moving average is $45.93. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.29. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $58.69. The stock has a market cap of $40.97 billion, a PE ratio of 20.99, a P/E/G ratio of 1.92 and a beta of 0.61.

Dominion Energy (NYSE:D) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. Research analysts predict that Dominion Energy, Inc. will post 2.86 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Friday, March 1st were issued a dividend of $0.6675 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.67 annualized dividend and a yield of 5.46%. Dominion Energy’s payout ratio is presently 114.59%.

Insider Activity at Dominion Energy

In related news, CEO Robert M. Blue purchased 21,735 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $45.91 per share, for a total transaction of $997,853.85. Following the acquisition, the chief executive officer now owns 176,240 shares of the company’s stock, valued at approximately $8,091,178.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Dominion Energy news, Director Joseph M. Rigby acquired 2,130 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $46.94 per share, with a total value of $99,982.20. Following the transaction, the director now directly owns 8,417 shares of the company’s stock, valued at approximately $395,093.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert M. Blue acquired 21,735 shares of the business’s stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the transaction, the chief executive officer now directly owns 176,240 shares in the company, valued at $8,091,178.40. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.

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.