State of Michigan Retirement System Cuts Position in Dominion Energy, Inc. (NYSE:D)

State of Michigan Retirement System reduced its position in shares of Dominion Energy, Inc. (NYSE:D) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 242,967 shares of the utilities provider’s stock after selling 3,800 shares during the period. State of Michigan Retirement System’s holdings in Dominion Energy were worth $13,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cape Investment Advisory Inc. increased its stake in Dominion Energy by 175.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the utilities provider’s stock worth $25,000 after buying an additional 300 shares during the period. BankPlus Trust Department acquired a new stake in Dominion Energy in the 4th quarter valued at about $26,000. Roble Belko & Company Inc purchased a new position in shares of Dominion Energy in the 4th quarter valued at about $27,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Dominion Energy during the third quarter worth about $28,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Dominion Energy during the third quarter worth approximately $32,000. 73.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Scotiabank upped their target price on shares of Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Morgan Stanley began coverage on Dominion Energy in a research note on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price objective for the company. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.00.

Dominion Energy Trading Down 4.3 %

Shares of D stock opened at $54.42 on Wednesday. The business’s fifty day moving average price is $55.02 and its 200 day moving average price is $56.45. The firm has a market capitalization of $46.37 billion, a PE ratio of 20.15, a P/E/G ratio of 1.22 and a beta of 0.58. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58. Dominion Energy, Inc. has a 1-year low of $45.99 and a 1-year high of $61.97.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. As a group, sell-side analysts forecast that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a yield of 4.91%. Dominion Energy’s payout ratio is 98.89%.

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.