Los Angeles Capital Management LLC Reduces Holdings in Dominion Energy, Inc. (NYSE:D)

Los Angeles Capital Management LLC trimmed its stake in Dominion Energy, Inc. (NYSE:D) by 39.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 566,861 shares of the utilities provider’s stock after selling 366,226 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of Dominion Energy worth $30,531,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of D. Hotchkis & Wiley Capital Management LLC grew its position in shares of Dominion Energy by 63.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock valued at $487,567,000 after buying an additional 3,278,175 shares during the last quarter. Point72 Asset Management L.P. grew its position in Dominion Energy by 10,324.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,250,811 shares of the utilities provider’s stock worth $130,074,000 after purchasing an additional 2,229,220 shares during the last quarter. State Street Corp grew its position in Dominion Energy by 3.2% during the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after purchasing an additional 1,365,555 shares during the last quarter. JPMorgan Chase & Co. grew its position in Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after purchasing an additional 1,222,688 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Dominion Energy by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock worth $804,606,000 after purchasing an additional 1,068,996 shares during the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Dominion Energy stock opened at $57.44 on Wednesday. Dominion Energy, Inc. has a 1 year low of $44.17 and a 1 year high of $61.97. The firm has a 50 day moving average price of $54.72 and a 200 day moving average price of $56.41. The company has a market cap of $48.25 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.22 and a beta of 0.61. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74.

Dominion Energy (NYSE:D) last released its earnings results on Wednesday, February 12th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Dominion Energy had a net margin of 16.22% and a return on equity of 8.99%. Sell-side analysts predict that Dominion Energy, Inc. will post 3.39 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.67 annualized dividend and a yield of 4.65%. Dominion Energy’s dividend payout ratio is currently 98.89%.

Analysts Set New Price Targets

Several brokerages have issued reports on D. Scotiabank raised their price objective on shares of Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $61.00 price objective on shares of Dominion Energy in a research report on Friday, November 8th. Finally, Morgan Stanley began coverage on shares of Dominion Energy in a research report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Dominion Energy presently has an average rating of “Hold” and an average price target of $56.58.

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.