Spinnaker Trust Sells 970 Shares of Dominion Energy, Inc. (NYSE:D)

Spinnaker Trust reduced its stake in Dominion Energy, Inc. (NYSE:D) by 17.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,536 shares of the utilities provider’s stock after selling 970 shares during the period. Spinnaker Trust’s holdings in Dominion Energy were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. lifted its position in shares of Dominion Energy by 5.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,988,722 shares of the utilities provider’s stock worth $178,176,000 after purchasing an additional 199,629 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Dominion Energy by 196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 392,568 shares of the utilities provider’s stock worth $18,451,000 after purchasing an additional 259,978 shares during the period. Morgan Stanley lifted its position in Dominion Energy by 12.8% during the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after acquiring an additional 803,341 shares during the last quarter. International Assets Investment Management LLC lifted its position in Dominion Energy by 1,797.9% during the fourth quarter. International Assets Investment Management LLC now owns 165,917 shares of the utilities provider’s stock valued at $7,798,000 after acquiring an additional 157,175 shares during the last quarter. Finally, Diversified Trust Co lifted its position in Dominion Energy by 97.3% during the fourth quarter. Diversified Trust Co now owns 14,339 shares of the utilities provider’s stock valued at $674,000 after acquiring an additional 7,071 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Stock Performance

Shares of NYSE:D traded down $0.52 during midday trading on Friday, reaching $50.45. The company’s stock had a trading volume of 3,477,143 shares, compared to its average volume of 3,882,772. The firm has a market capitalization of $42.26 billion, a PE ratio of 21.65, a P/E/G ratio of 3.43 and a beta of 0.61. Dominion Energy, Inc. has a twelve month low of $39.18 and a twelve month high of $57.90. The stock has a fifty day moving average of $48.17 and a 200 day moving average of $46.37. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

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 analyst estimates 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 quarter in the prior year, the business posted $1.06 EPS. On average, equities analysts expect that Dominion Energy, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Guggenheim decreased their target price on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Barclays decreased their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Mizuho decreased 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. BMO Capital Markets lowered shares of Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research note on Monday, March 11th. Finally, Scotiabank cut their price target on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.10.

Insider Activity at Dominion Energy

In other news, CEO Robert M. Blue purchased 21,735 shares of the company’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 completion of the transaction, the chief executive officer now owns 176,240 shares in the company, valued at $8,091,178.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Robert M. Blue acquired 21,735 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the chief executive officer now directly owns 176,240 shares in the company, valued at approximately $8,091,178.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph M. Rigby acquired 2,130 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the acquisition, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The disclosure for this purchase can be found here. 0.14% of the stock is owned by company insiders.

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.