Miracle Mile Advisors LLC Sells 368 Shares of Dominion Energy, Inc. (NYSE:D)

Miracle Mile Advisors LLC lessened its stake in shares of Dominion Energy, Inc. (NYSE:D) by 6.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,242 shares of the utilities provider’s stock after selling 368 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Dominion Energy were worth $294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Dominion Energy in the fourth quarter worth approximately $473,354,000. American Century Companies Inc. increased its holdings in shares of Dominion Energy by 207.7% in the 4th quarter. American Century Companies Inc. now owns 3,763,898 shares of the utilities provider’s stock worth $202,724,000 after buying an additional 2,540,713 shares during the last quarter. Marshall Wace LLP raised its position in shares of Dominion Energy by 8,585.3% during the 4th quarter. Marshall Wace LLP now owns 2,210,322 shares of the utilities provider’s stock valued at $119,048,000 after buying an additional 2,184,873 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Dominion Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,960,638 shares of the utilities provider’s stock worth $1,667,540,000 after acquiring an additional 1,459,926 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in Dominion Energy in the fourth quarter valued at $72,269,000. 73.04% of the stock is currently owned by institutional investors.

Dominion Energy Trading Down 0.2%

Shares of Dominion Energy stock opened at $55.53 on Thursday. Dominion Energy, Inc. has a twelve month low of $47.99 and a twelve month high of $61.97. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average price of $54.48 and a 200-day moving average price of $54.89. The firm has a market cap of $47.35 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.22 and a beta of 0.56.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Dominion Energy had a return on equity of 8.99% and a net margin of 16.22%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. Equities research analysts anticipate that Dominion Energy, Inc. will post 3.39 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.67 annualized dividend and a yield of 4.81%. Dominion Energy’s dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group boosted their target price on Dominion Energy from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Argus upgraded Dominion Energy to a “hold” rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $52.00 price target (down previously from $59.00) on shares of Dominion Energy in a research report on Tuesday, April 8th. Finally, Morgan Stanley reduced their price objective on shares of Dominion Energy from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Dominion Energy has a consensus rating of “Hold” and an average price target of $58.63.

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.