RiverFront Investment Group LLC Sells 2,383 Shares of Dominion Energy, Inc. (NYSE:D)

RiverFront Investment Group LLC trimmed its position in Dominion Energy, Inc. (NYSE:D) by 32.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,938 shares of the utilities provider’s stock after selling 2,383 shares during the period. RiverFront Investment Group LLC’s holdings in Dominion Energy were worth $232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Dominion Energy by 631.2% in the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock valued at $729,898,000 after acquiring an additional 14,105,237 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Dominion Energy by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock worth $1,045,051,000 after purchasing an additional 1,928,823 shares during the last quarter. Magellan Asset Management Ltd raised its stake in shares of Dominion Energy by 53.1% during the 3rd quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock worth $199,800,000 after purchasing an additional 1,551,611 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Dominion Energy by 12.0% in the 3rd quarter. Federated Hermes Inc. now owns 7,536,507 shares of the utilities provider’s stock valued at $336,656,000 after buying an additional 805,570 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Dominion Energy by 12.8% in the third quarter. Morgan Stanley now owns 7,082,946 shares of the utilities provider’s stock valued at $316,395,000 after buying an additional 803,341 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Dominion Energy news, Director Joseph M. Rigby purchased 2,130 shares of the company’s 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 completion of the purchase, the director now owns 8,417 shares of the company’s stock, valued at $395,093.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Joseph M. Rigby acquired 2,130 shares of the stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $46.94 per share, for a total transaction of $99,982.20. Following the completion of the transaction, the director now directly owns 8,417 shares of the company’s stock, valued at $395,093.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert M. Blue bought 21,735 shares of Dominion Energy stock in a transaction that occurred on Monday, March 4th. The stock was bought 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 of the company’s stock, valued at $8,091,178.40. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.

Dominion Energy Stock Down 1.0 %

Shares of D opened at $50.45 on Monday. The firm has a 50 day simple moving average of $48.17 and a two-hundred day simple moving average of $46.42. The company has a market cap of $42.26 billion, a P/E ratio of 21.65, a P/E/G ratio of 3.37 and a beta of 0.61. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $57.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 0.97.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.21 billion. Dominion Energy had a net margin of 12.40% and a return on equity of 8.83%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. Research analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BMO Capital Markets downgraded Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research report on Monday, March 11th. StockNews.com downgraded Dominion Energy from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Wells Fargo & Company lifted their price objective on shares of Dominion Energy from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. Guggenheim dropped their price objective on shares of Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Finally, Barclays reduced their target price on shares of Dominion Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Dominion Energy has an average rating of “Hold” and an average price target of $49.10.

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.