Diamond Hill Capital Management Inc. Decreases Holdings in Dominion Energy Inc. $D

Diamond Hill Capital Management Inc. reduced its stake in Dominion Energy Inc. (NYSE:D) by 12.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 349,315 shares of the utilities provider’s stock after selling 47,450 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Dominion Energy were worth $21,368,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Dominion Energy by 64.3% during the 4th quarter. Brighton Jones LLC now owns 9,081 shares of the utilities provider’s stock valued at $489,000 after acquiring an additional 3,553 shares during the period. Empowered Funds LLC lifted its stake in Dominion Energy by 8.3% in the first quarter. Empowered Funds LLC now owns 17,571 shares of the utilities provider’s stock valued at $985,000 after purchasing an additional 1,344 shares during the last quarter. Woodline Partners LP grew its holdings in Dominion Energy by 40.7% during the first quarter. Woodline Partners LP now owns 70,968 shares of the utilities provider’s stock valued at $3,979,000 after purchasing an additional 20,522 shares during the period. Intech Investment Management LLC increased its position in Dominion Energy by 71.2% in the first quarter. Intech Investment Management LLC now owns 30,460 shares of the utilities provider’s stock worth $1,708,000 after buying an additional 12,663 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its position in Dominion Energy by 5.9% in the second quarter. Maryland State Retirement & Pension System now owns 41,481 shares of the utilities provider’s stock worth $2,345,000 after buying an additional 2,303 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Stock Down 0.3%

D stock opened at $62.33 on Friday. The stock has a 50-day simple moving average of $59.61 and a two-hundred day simple moving average of $60.16. Dominion Energy Inc. has a twelve month low of $48.07 and a twelve month high of $63.43. The firm has a market capitalization of $53.23 billion, a PE ratio of 21.20, a PEG ratio of 1.69 and a beta of 0.71. The company has a quick ratio of 0.65, a current ratio of 0.84 and a debt-to-equity ratio of 1.41.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 27th will be given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, February 27th. Dominion Energy’s payout ratio is 90.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on D shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dominion Energy in a research note on Monday, December 29th. Wells Fargo & Company lowered their price objective on Dominion Energy from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. TD Cowen initiated coverage on shares of Dominion Energy in a research report on Friday, January 9th. They set a “hold” rating and a $65.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Dominion Energy from $62.00 to $59.00 and set an “underweight” rating on the stock in a research report on Thursday, December 11th. Finally, BTIG Research assumed coverage on shares of Dominion Energy in a report on Wednesday, October 22nd. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Dominion Energy currently has a consensus rating of “Hold” and a consensus price target of $64.33.

Dominion Energy Profile

Dominion Energy, Inc, headquartered in Richmond, Virginia, is a diversified energy company that primarily operates regulated electricity and natural gas utilities and develops energy infrastructure. The company’s core activities include the generation, transmission and distribution of electricity to residential, commercial and industrial customers, as well as the purchase, storage and delivery of natural gas. Dominion combines traditional utility operations with energy infrastructure businesses to provide essential services across its service territories.

Dominion’s electricity portfolio spans multiple technologies and fuel sources, including nuclear, natural gas-fired generation and renewable resources such as utility-scale solar and wind.