Park Place Capital Corp Trims Stock Position in Dominion Energy, Inc. (NYSE:D)

Park Place Capital Corp cut its stake in shares of Dominion Energy, Inc. (NYSE:D) by 11.6% in the 1st quarter, Holdings Channel reports. The fund owned 13,006 shares of the utilities provider’s stock after selling 1,700 shares during the quarter. Park Place Capital Corp’s holdings in Dominion Energy were worth $640,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Criterion Capital Advisors LLC purchased a new position in shares of Dominion Energy during the 4th quarter worth approximately $29,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Dominion Energy during the 4th quarter worth approximately $30,000. Rise Advisors LLC purchased a new position in shares of Dominion Energy during the 1st quarter worth approximately $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 worth $32,000 after buying an additional 310 shares in the last quarter. Finally, 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 worth $38,000 after buying an additional 804 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on D shares. Evercore ISI raised their price objective on Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Wells Fargo & Company raised their price objective on Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $43.00 to $54.00 in a research note on Friday, May 10th. StockNews.com raised Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Finally, Scotiabank dropped their price objective on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and an average price target of $51.73.

Dominion Energy Price Performance

NYSE:D traded down $1.00 during trading hours on Monday, reaching $48.00. 3,524,306 shares of the company traded hands, compared to its average volume of 4,904,031. Dominion Energy, Inc. has a 1-year low of $39.18 and a 1-year high of $54.74. The firm’s 50-day moving average is $51.64 and its 200-day moving average is $48.73. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94. The stock has a market cap of $40.20 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.31 and a beta of 0.59.

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, topping the consensus estimate of $0.51 by $0.04. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The business’s revenue was down 6.5% on a year-over-year basis. Equities research analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 5.56%. The ex-dividend date of this dividend was Friday, May 31st. Dominion Energy’s dividend payout ratio (DPR) is 137.63%.

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.