Maryland State Retirement & Pension System Sells 5,574 Shares of Dominion Energy Inc. (NYSE:D)

Maryland State Retirement & Pension System reduced its position in shares of Dominion Energy Inc. (NYSE:D) by 12.5% in the first quarter, Holdings Channel reports. The fund owned 39,178 shares of the utilities provider’s stock after selling 5,574 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Dominion Energy were worth $2,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Dominion Energy by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 91,079,415 shares of the utilities provider’s stock valued at $5,106,823,000 after buying an additional 1,565,459 shares during the period. Bank of New York Mellon Corp increased its stake in Dominion Energy by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 15,878,683 shares of the utilities provider’s stock worth $890,318,000 after purchasing an additional 939,835 shares during the period. Bank of America Corp DE increased its stake in Dominion Energy by 2.9% in the fourth quarter. Bank of America Corp DE now owns 11,946,195 shares of the utilities provider’s stock worth $643,422,000 after purchasing an additional 336,747 shares during the period. Canada Pension Plan Investment Board increased its stake in Dominion Energy by 0.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,450,928 shares of the utilities provider’s stock worth $616,747,000 after purchasing an additional 63,206 shares during the period. Finally, Northern Trust Corp increased its stake in Dominion Energy by 16.7% in the fourth quarter. Northern Trust Corp now owns 9,315,991 shares of the utilities provider’s stock worth $501,759,000 after purchasing an additional 1,330,459 shares during the period. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $61.80 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.53. The business’s 50 day moving average price is $57.19 and its 200-day moving average price is $55.59. The firm has a market capitalization of $52.74 billion, a PE ratio of 21.31, a P/E/G ratio of 1.34 and a beta of 0.57. Dominion Energy Inc. has a 1 year low of $48.07 and a 1 year high of $62.26.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Dominion Energy had a return on equity of 9.68% and a net margin of 16.45%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the firm posted $0.65 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts expect that Dominion Energy Inc. will post 3.39 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 20th. Shareholders of record on Friday, September 5th will be given a $0.6675 dividend. The ex-dividend date is Friday, September 5th. This represents a $2.67 dividend on an annualized basis and a yield of 4.3%. Dominion Energy’s payout ratio is currently 92.07%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley reduced their target price on Dominion Energy from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 18th. JPMorgan Chase & Co. increased their target price on Dominion Energy from $53.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.14.

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.