Gabelli Funds LLC Cuts Stake in Dominion Energy, Inc. (NYSE:D)

Gabelli Funds LLC cut its holdings in Dominion Energy, Inc. (NYSE:D) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 433,000 shares of the utilities provider’s stock after selling 6,200 shares during the quarter. Gabelli Funds LLC’s holdings in Dominion Energy were worth $23,321,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Dominion Energy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider’s stock valued at $4,821,222,000 after acquiring an additional 674,859 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Dominion Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock valued at $1,667,540,000 after purchasing an additional 1,459,926 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Dominion Energy by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after purchasing an additional 1,222,688 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dominion Energy by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 18,477,121 shares of the utilities provider’s stock valued at $997,034,000 after buying an additional 601,900 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Dominion Energy by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock valued at $804,606,000 after buying an additional 1,068,996 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on D. UBS Group boosted their price objective on shares of Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $52.00 price objective (down previously from $59.00) on shares of Dominion Energy in a report on Tuesday, April 8th. Morgan Stanley boosted their target price on Dominion Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Finally, Argus upgraded Dominion Energy to a “hold” rating in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $57.00.

Dominion Energy Trading Down 0.8 %

Dominion Energy stock opened at $53.65 on Wednesday. The stock has a 50-day moving average price of $54.73 and a 200 day moving average price of $55.77. The company has a market capitalization of $45.72 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 1.22 and a beta of 0.57. Dominion Energy, Inc. has a 52 week low of $46.62 and a 52 week high of $61.97. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. Sell-side analysts anticipate that Dominion Energy, Inc. will post 3.39 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.98%. Dominion Energy’s payout ratio is currently 98.89%.

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.