Dominion Energy Inc (D) Stake Lessened by Abbot Financial Management Inc.
Abbot Financial Management Inc. reduced its position in shares of Dominion Energy Inc (NYSE:D) by 57.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,729 shares of the utilities provider’s stock after selling 5,100 shares during the period. Abbot Financial Management Inc.’s holdings in Dominion Energy were worth $262,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Kaizen Advisory LLC raised its position in shares of Dominion Energy by 136.6% during the 2nd quarter. Kaizen Advisory LLC now owns 1,474 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 851 shares during the last quarter. Kayne Anderson Capital Advisors LP acquired a new position in shares of Dominion Energy during the 3rd quarter worth about $121,000. Psagot Investment House Ltd. acquired a new position in shares of Dominion Energy during the 3rd quarter worth about $126,000. First Hawaiian Bank acquired a new position in shares of Dominion Energy during the 3rd quarter worth about $132,000. Finally, Wagner Wealth Management LLC raised its position in shares of Dominion Energy by 859.5% during the 3rd quarter. Wagner Wealth Management LLC now owns 1,919 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 1,719 shares during the last quarter. 67.43% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Dominion Energy from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Barclays assumed coverage on shares of Dominion Energy in a report on Monday, October 22nd. They issued a “buy” rating and a $78.00 price objective for the company. Argus increased their price objective on shares of Dominion Energy from $74.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, September 19th. They noted that the move was a valuation call. Macquarie set a $74.00 price objective on shares of Dominion Energy and gave the company a “buy” rating in a report on Tuesday, September 25th. Finally, Bank of America cut their price objective on shares of Dominion Energy from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, August 2nd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $84.58.
Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.02. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.41 billion. Dominion Energy had a net margin of 24.63% and a return on equity of 13.24%. Dominion Energy’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, sell-side analysts expect that Dominion Energy Inc will post 4.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.55%. Dominion Energy’s dividend payout ratio is currently 92.78%.
In other news, Director John W. Harris purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was acquired at an average price of $71.15 per share, for a total transaction of $711,500.00. Following the acquisition, the director now directly owns 17,495 shares of the company’s stock, valued at $1,244,769.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by company insiders.
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About Dominion Energy
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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