Prosperity Consulting Group LLC Sells 429 Shares of Dominion Energy, Inc. (NYSE:D)

Prosperity Consulting Group LLC trimmed its stake in Dominion Energy, Inc. (NYSE:D) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,318 shares of the utilities provider’s stock after selling 429 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Dominion Energy were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its stake in Dominion Energy by 1.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 141,616 shares of the utilities provider’s stock worth $6,939,000 after purchasing an additional 2,142 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in shares of Dominion Energy by 6.7% in the second quarter. Wealthspire Advisors LLC now owns 7,961 shares of the utilities provider’s stock worth $390,000 after buying an additional 497 shares in the last quarter. Leelyn Smith LLC grew its holdings in shares of Dominion Energy by 4.5% during the second quarter. Leelyn Smith LLC now owns 42,613 shares of the utilities provider’s stock valued at $2,088,000 after buying an additional 1,850 shares during the last quarter. CoreCap Advisors LLC bought a new stake in shares of Dominion Energy during the second quarter valued at approximately $438,000. Finally, Hardin Capital Partners LLC purchased a new position in Dominion Energy in the 2nd quarter worth approximately $421,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on D. BMO Capital Markets lifted their target price on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Scotiabank raised their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.11.

Dominion Energy Price Performance

NYSE D opened at $58.16 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $48.79 billion, a P/E ratio of 29.98, a PEG ratio of 1.53 and a beta of 0.60. The company has a 50-day moving average price of $54.47 and a 200-day moving average price of $51.62. Dominion Energy, Inc. has a 52 week low of $39.18 and a 52 week high of $58.18.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. Dominion Energy had a net margin of 11.63% and a return on equity of 7.69%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, August 30th. Dominion Energy’s dividend payout ratio is presently 137.63%.

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.