Verus Financial Partners Inc. Sells 778 Shares of Dominion Energy, Inc. (NYSE:D)

Verus Financial Partners Inc. trimmed its holdings in Dominion Energy, Inc. (NYSE:D) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,115 shares of the utilities provider’s stock after selling 778 shares during the quarter. Verus Financial Partners Inc.’s holdings in Dominion Energy were worth $780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arlington Capital Management Inc. purchased a new position in shares of Dominion Energy in the 4th quarter worth $765,000. EdgeRock Capital LLC bought a new stake in Dominion Energy during the fourth quarter valued at about $81,000. Charles Schwab Investment Management Inc. increased its position in Dominion Energy by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,885,024 shares of the utilities provider’s stock worth $229,596,000 after buying an additional 187,726 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Dominion Energy by 11.3% in the fourth quarter. Apollon Wealth Management LLC now owns 36,372 shares of the utilities provider’s stock worth $1,709,000 after buying an additional 3,679 shares during the period. Finally, Lincoln National Corp lifted its position in shares of Dominion Energy by 8.9% during the 4th quarter. Lincoln National Corp now owns 11,060 shares of the utilities provider’s stock valued at $520,000 after buying an additional 902 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on D. BMO Capital Markets upped their price target on shares of Dominion Energy from $51.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Evercore ISI increased their target price on shares of Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Wells Fargo & Company increased their price target on shares of Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Scotiabank lowered their target price on shares of Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Dominion Energy has an average rating of “Hold” and a consensus price target of $50.73.

Dominion Energy Stock Performance

Shares of NYSE:D traded up $0.73 on Thursday, reaching $52.88. The company’s stock had a trading volume of 1,072,247 shares, compared to its average volume of 5,167,467. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $57.02. The stock’s 50-day moving average is $48.85 and its two-hundred day moving average is $46.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94. The stock has a market capitalization of $44.29 billion, a P/E ratio of 26.88, a PEG ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business posted $0.99 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be issued a $0.6675 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.67 dividend on an annualized basis and a yield of 5.05%. Dominion Energy’s payout ratio is 137.63%.

Insider Transactions at Dominion Energy

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