Meyer Handelman Co. Sells 1,860 Shares of Dominion Energy, Inc. (NYSE:D)

Meyer Handelman Co. lessened its stake in shares of Dominion Energy, Inc. (NYSE:D) by 30.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,233 shares of the utilities provider’s stock after selling 1,860 shares during the period. Meyer Handelman Co.’s holdings in Dominion Energy were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in D. Vanguard Group Inc. lifted its stake in shares of Dominion Energy by 16.0% in the 1st quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock valued at $4,346,193,000 after purchasing an additional 12,178,713 shares during the period. Capital Research Global Investors boosted its stake in Dominion Energy by 136.5% during the 4th quarter. Capital Research Global Investors now owns 17,970,856 shares of the utilities provider’s stock worth $844,630,000 after purchasing an additional 10,370,768 shares during the last quarter. Norges Bank acquired a new stake in shares of Dominion Energy in the fourth quarter valued at about $329,792,000. ClearBridge Investments Ltd purchased a new position in shares of Dominion Energy in the fourth quarter worth about $214,220,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Dominion Energy by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock valued at $1,204,904,000 after acquiring an additional 2,801,687 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their target price on Dominion Energy from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. StockNews.com upgraded Dominion Energy from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Scotiabank lowered their price objective on shares of 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. Mizuho lifted their target price on Dominion Energy from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $43.00 to $54.00 in a report on Friday, May 10th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.73.

Dominion Energy Stock Down 0.2 %

NYSE D traded down $0.10 on Wednesday, reaching $54.98. The company had a trading volume of 51,817 shares, compared to its average volume of 4,594,715. The firm has a market capitalization of $46.12 billion, a PE ratio of 28.38, a P/E/G ratio of 1.46 and a beta of 0.58. The firm has a 50-day moving average of $51.43 and a 200-day moving average of $49.86. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $57.60. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.78.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the company earned $0.53 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that Dominion Energy, Inc. will post 2.75 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Friday, August 30th. Dominion Energy’s payout ratio is 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.