Spire Wealth Management Sells 1,014 Shares of Dominion Energy, Inc. (NYSE:D)

Spire Wealth Management trimmed its position in shares of Dominion Energy, Inc. (NYSE:D) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 20,248 shares of the utilities provider’s stock after selling 1,014 shares during the quarter. Spire Wealth Management’s holdings in Dominion Energy were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of D. Wellington Management Group LLP raised its holdings in shares of Dominion Energy by 631.2% during the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after purchasing an additional 14,105,237 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Dominion Energy by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after buying an additional 1,928,823 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in shares of Dominion Energy by 53.1% during the 3rd quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock valued at $199,800,000 after buying an additional 1,551,611 shares during the period. Federated Hermes Inc. boosted its stake in shares of Dominion Energy by 12.0% in the 3rd quarter. Federated Hermes Inc. now owns 7,536,507 shares of the utilities provider’s stock worth $336,656,000 after buying an additional 805,570 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Dominion Energy by 12.8% in the 3rd quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock worth $316,395,000 after buying an additional 803,341 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on D. Evercore ISI raised their target price on Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. StockNews.com downgraded shares of Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. BMO Capital Markets upped their target price on shares of Dominion Energy from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Monday. Wells Fargo & Company lifted their price target on shares of Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Finally, Bank of America upped their price objective on Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.73.

Dominion Energy Stock Performance

NYSE D opened at $52.15 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. Dominion Energy, Inc. has a twelve month low of $39.18 and a twelve month high of $57.02. The business has a 50-day moving average price of $48.85 and a 200-day moving average price of $46.92. The firm has a market cap of $43.68 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the company posted $0.99 EPS. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.12%. Dominion Energy’s payout ratio is 137.63%.

Insider Activity

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

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.