Parcion Private Wealth LLC Lowers Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Parcion Private Wealth LLC lowered its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,168 shares of the utilities provider’s stock after selling 528 shares during the quarter. Parcion Private Wealth LLC’s holdings in Dominion Energy were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of D. Family Firm Inc. purchased a new position in shares of Dominion Energy in the second quarter valued at approximately $27,000. Rise Advisors LLC purchased a new position in shares of Dominion Energy in the first quarter valued at approximately $30,000. LRI Investments LLC purchased a new position in shares of Dominion Energy in the first quarter valued at approximately $30,000. Triad Wealth Partners LLC purchased a new position in shares of Dominion Energy in the second quarter valued at approximately $33,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Dominion Energy in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on D shares. Bank of America upgraded Dominion Energy from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $43.00 to $54.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. raised their target price on Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. BMO Capital Markets raised their target price on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Scotiabank raised their target price on Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, StockNews.com raised Dominion Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.00.

Dominion Energy Stock Performance

Shares of Dominion Energy stock traded down $0.23 on Friday, hitting $57.11. The stock had a trading volume of 2,582,535 shares, compared to its average volume of 4,480,816. Dominion Energy, Inc. has a 52-week low of $39.18 and a 52-week high of $58.13. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42. The stock has a market cap of $47.91 billion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 1.54 and a beta of 0.60. The company’s 50 day moving average price is $53.60 and its 200 day moving average price is $51.18.

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

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.68%. The ex-dividend date is Friday, August 30th. Dominion Energy’s payout ratio is 137.63%.

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.