Palisade Asset Management LLC Reduces Holdings in Dominion Energy, Inc. (NYSE:D)

Palisade Asset Management LLC lessened its position in shares of Dominion Energy, Inc. (NYSE:D) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,641 shares of the utilities provider’s stock after selling 2,840 shares during the period. Palisade Asset Management LLC’s holdings in Dominion Energy were worth $1,299,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Criterion Capital Advisors LLC bought a new stake in shares of Dominion Energy during the 4th quarter valued at $29,000. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Dominion Energy during the 4th quarter valued at $30,000. Venturi Wealth Management LLC raised its stake in shares of Dominion Energy by 84.5% during the 4th quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 310 shares during the period. Janiczek Wealth Management LLC raised its stake in shares of Dominion Energy by 20,100.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 808 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 804 shares during the period. Finally, Briaud Financial Planning Inc bought a new stake in shares of Dominion Energy during the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on D. Evercore ISI upped their target price on Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Friday. StockNews.com lowered Dominion Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Wells Fargo & Company upped their target price on Dominion Energy from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday. Guggenheim decreased their target price on Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Finally, Scotiabank decreased their target price on 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 analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $50.73.

Dominion Energy Trading Up 1.4 %

Shares of Dominion Energy stock traded up $0.71 on Tuesday, hitting $52.12. The stock had a trading volume of 3,526,362 shares, compared to its average volume of 5,237,815. The stock’s 50-day simple moving average is $48.85 and its two-hundred day simple moving average is $46.92. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $57.27. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 1.37. The stock has a market cap of $43.66 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.43 and a beta of 0.59.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a net margin of 11.57% and a return on equity of 7.50%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 earnings per share. As a group, sell-side analysts predict that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Robert M. Blue purchased 21,735 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $45.91 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Robert M. Blue acquired 21,735 shares of the business’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 transaction, the chief executive officer now owns 176,240 shares in the company, valued at approximately $8,091,178.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph M. Rigby bought 2,130 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $46.94 per share, with a total value of $99,982.20. Following the purchase, the director now owns 8,417 shares in the company, valued at $395,093.98. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Dominion Energy 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.