Allspring Global Investments Holdings LLC Lowers Stock Position in Dominion Energy, Inc. (NYSE:D)

Allspring Global Investments Holdings LLC decreased its position in Dominion Energy, Inc. (NYSE:D) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 323,342 shares of the utilities provider’s stock after selling 1,769 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Dominion Energy were worth $15,197,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sei Investments Co. grew its stake in Dominion Energy by 7.7% in the 1st quarter. Sei Investments Co. now owns 168,723 shares of the utilities provider’s stock valued at $14,325,000 after acquiring an additional 12,002 shares during the period. Prudential PLC purchased a new position in Dominion Energy during the first quarter valued at $1,528,000. Sequoia Financial Advisors LLC grew its position in shares of Dominion Energy by 30.0% in the first quarter. Sequoia Financial Advisors LLC now owns 7,195 shares of the utilities provider’s stock valued at $611,000 after purchasing an additional 1,661 shares during the period. Covestor Ltd increased its stake in shares of Dominion Energy by 49.8% during the first quarter. Covestor Ltd now owns 394 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 131 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Dominion Energy during the 1st quarter worth about $419,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Dominion Energy from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Barclays reduced their price objective on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets cut shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research note on Monday, March 11th. Mizuho reduced their target price on shares of Dominion Energy from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, Scotiabank lowered their price target on shares of Dominion Energy from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.10.

Insider Buying and Selling

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

Dominion Energy Price Performance

Shares of D stock opened at $47.92 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97. The company has a market capitalization of $40.14 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.92 and a beta of 0.61. The firm’s 50-day moving average is $47.30 and its two-hundred day moving average is $45.96. Dominion Energy, Inc. has a 12 month low of $39.18 and a 12 month high of $58.69.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.29 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 net margin of 12.40% and a return on equity of 8.83%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. Analysts predict that Dominion Energy, Inc. will post 2.86 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date was Thursday, February 29th. Dominion Energy’s dividend payout ratio is presently 114.59%.

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.