Hennessy Advisors Inc. Decreases Position in Dominion Energy, Inc. (NYSE:D)

Hennessy Advisors Inc. lowered its position in Dominion Energy, Inc. (NYSE:D) by 77.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 67,277 shares of the utilities provider’s stock after selling 234,700 shares during the period. Hennessy Advisors Inc.’s holdings in Dominion Energy were worth $3,297,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in D. Rise Advisors LLC purchased a new position in Dominion Energy during the first quarter worth $30,000. LRI Investments LLC purchased a new stake in Dominion Energy during the 1st quarter worth about $32,000. Triad Wealth Partners LLC acquired a new position in Dominion Energy in the 2nd quarter valued at about $33,000. Opal Wealth Advisors LLC purchased a new stake in shares of Dominion Energy in the second quarter valued at $35,000. Finally, Lynx Investment Advisory acquired a new position in Dominion Energy in the second quarter valued at $37,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 0.0 %

NYSE D opened at $56.46 on Friday. The firm has a market capitalization of $47.29 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. Dominion Energy, Inc. has a one year low of $39.18 and a one year high of $57.60. The company has a 50-day simple moving average of $52.06 and a 200-day simple moving average of $50.30. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.78 and a current ratio of 0.93.

Dominion Energy (NYSE:D) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. Dominion Energy’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, equities analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.73%. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

Wall Street Analysts Forecast Growth

D has been the subject of a number of research analyst reports. StockNews.com raised shares of Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. increased their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $43.00 to $54.00 in a research report on Friday, May 10th. Scotiabank increased their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Evercore ISI upped their target price on shares of Dominion Energy from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dominion Energy currently has an average rating of “Hold” and a consensus target price of $53.64.

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.