Poplar Forest Capital LLC Sells 66,473 Shares of Dominion Energy, Inc. (NYSE:D)

Poplar Forest Capital LLC lessened its stake in shares of Dominion Energy, Inc. (NYSE:D) by 25.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 191,955 shares of the utilities provider’s stock after selling 66,473 shares during the period. Dominion Energy comprises approximately 1.3% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 28th largest holding. Poplar Forest Capital LLC’s holdings in Dominion Energy were worth $9,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of D. Wellington Management Group LLP raised its holdings in Dominion Energy by 631.2% during the third quarter. Wellington Management Group LLP now owns 16,339,785 shares of the utilities provider’s stock worth $729,898,000 after acquiring an additional 14,105,237 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Dominion Energy by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 23,394,919 shares of the utilities provider’s stock valued at $1,045,051,000 after buying an additional 1,928,823 shares during the period. Magellan Asset Management Ltd raised its stake in Dominion Energy by 53.1% in the third quarter. Magellan Asset Management Ltd now owns 4,472,803 shares of the utilities provider’s stock valued at $199,800,000 after buying an additional 1,551,611 shares during the period. Federated Hermes Inc. raised its stake in Dominion Energy by 12.0% in the third 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 period. Finally, Morgan Stanley raised its stake in 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 during the period. Institutional investors own 73.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on D shares. Barclays dropped their price objective on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. BMO Capital Markets downgraded Dominion Energy from an “outperform” rating to a “market perform” rating and set a $49.00 target price 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 research report on Friday, February 23rd. 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 report on Monday. Finally, Mizuho decreased their target price on Dominion Energy from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $49.10.

Dominion Energy Price Performance

NYSE:D traded up $0.58 during trading hours on Wednesday, reaching $51.25. 3,538,308 shares of the company were exchanged, compared to its average volume of 5,361,890. The business has a 50 day moving average of $47.97 and a 200 day moving average of $46.28. 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, Inc. has a 1-year low of $39.18 and a 1-year high of $57.90. The company has a market capitalization of $42.93 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.99 and a beta of 0.61.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, February 22nd. The utilities provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.11). Dominion Energy had a return on equity of 8.83% and a net margin of 12.40%. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company earned $1.06 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Research analysts forecast that Dominion Energy, Inc. will post 2.86 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st were paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date of this dividend was Thursday, February 29th. Dominion Energy’s payout ratio is 114.59%.

Insider Activity

In other news, CEO Robert M. Blue purchased 21,735 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the purchase, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Robert M. Blue purchased 21,735 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $45.91 per share, for a total transaction of $997,853.85. Following the purchase, the chief executive officer now owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph M. Rigby bought 2,130 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $46.94 per share, with a total value of $99,982.20. Following the completion of the transaction, the director now owns 8,417 shares in the company, valued at $395,093.98. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Dominion Energy Company 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.