Palisade Asset Management LLC Sells 2,840 Shares of Dominion Energy, Inc. (NYSE:D)

Palisade Asset Management LLC lowered its holdings in Dominion Energy, Inc. (NYSE:D) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,641 shares of the utilities provider’s stock after selling 2,840 shares during the quarter. Palisade Asset Management LLC’s holdings in Dominion Energy were worth $1,299,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Criterion Capital Advisors LLC purchased a new position in shares of Dominion Energy in the fourth quarter worth $29,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Dominion Energy in the fourth quarter worth $30,000. Venturi Wealth Management LLC raised its holdings in shares of Dominion Energy by 84.5% in the fourth quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock worth $32,000 after buying an additional 310 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Dominion Energy in the third quarter worth $36,000. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Dominion Energy by 91.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 839 shares of the utilities provider’s stock worth $37,000 after buying an additional 400 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Price Performance

D traded up $0.71 during midday trading on Tuesday, hitting $52.12. 3,526,362 shares of the company traded hands, compared to its average volume of 5,237,815. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 1.37. The company has a market capitalization 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, Inc. has a 52-week low of $39.18 and a 52-week high of $57.27. The business has a 50 day simple moving average of $48.85 and a two-hundred day simple moving average of $46.92.

Dominion Energy (NYSE:D) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate 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 was down 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. On average, equities analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Dominion Energy

In other Dominion Energy news, Director Joseph M. Rigby purchased 2,130 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost 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 in the company, valued at approximately $395,093.98. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Robert M. Blue bought 21,735 shares of Dominion Energy stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $45.91 per share, with a total value of $997,853.85. Following the completion of the purchase, the chief executive officer now directly owns 176,240 shares of the company’s stock, valued at $8,091,178.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph M. Rigby bought 2,130 shares of Dominion Energy stock in a transaction on Wednesday, March 6th. The shares were purchased 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 directly owns 8,417 shares of the company’s stock, valued at $395,093.98. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America raised their price target on shares of Dominion Energy from $40.00 to $43.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. Mizuho increased their price objective on shares of Dominion Energy from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday. Guggenheim cut 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 note on Monday, March 4th. Evercore ISI increased their price objective on shares of Dominion Energy from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Friday. Finally, BMO Capital Markets increased their price objective on shares of Dominion Energy from $51.00 to $52.00 and gave the stock a “market perform” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.73.

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.