Dominion Energy Inc. (D) Shares Sold by Patten Group Inc.

Patten Group Inc. decreased its stake in Dominion Energy Inc. (NYSE:D) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,511 shares of the utilities provider’s stock after selling 69 shares during the period. Patten Group Inc.’s holdings in Dominion Energy were worth $738,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Dominion Energy by 3,615.9% in the first quarter. BlackRock Inc. now owns 45,518,516 shares of the utilities provider’s stock worth $3,530,873,000 after buying an additional 44,293,566 shares during the period. Vanguard Group Inc. increased its stake in Dominion Energy by 3.4% in the first quarter. Vanguard Group Inc. now owns 43,602,368 shares of the utilities provider’s stock worth $3,382,237,000 after buying an additional 1,435,767 shares during the period. Wellington Management Group LLP increased its stake in Dominion Energy by 2.7% in the first quarter. Wellington Management Group LLP now owns 30,572,031 shares of the utilities provider’s stock worth $2,371,472,000 after buying an additional 790,484 shares during the period. Geode Capital Management LLC increased its stake in Dominion Energy by 7.7% in the first quarter. Geode Capital Management LLC now owns 5,843,417 shares of the utilities provider’s stock worth $452,596,000 after buying an additional 420,250 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Dominion Energy by 24.0% in the first quarter. Wells Fargo & Company MN now owns 4,900,432 shares of the utilities provider’s stock worth $380,127,000 after buying an additional 949,647 shares during the period. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Shares of Dominion Energy Inc. (NYSE:D) traded up 0.3861% during trading on Tuesday, reaching $77.9799. 401,726 shares of the company were exchanged. Dominion Energy Inc. has a one year low of $69.51 and a one year high of $81.65. The firm’s 50 day moving average price is $77.05 and its 200 day moving average price is $77.26. The company has a market capitalization of $50.11 billion, a PE ratio of 22.5702 and a beta of 0.28.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.94 billion. Dominion Energy had a return on equity of 14.04% and a net margin of 17.48%. Dominion Energy’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. Equities research analysts forecast that Dominion Energy Inc. will post $3.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Friday, September 1st will be given a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Wednesday, August 30th. Dominion Energy’s payout ratio is currently 87.28%.

A number of research firms have recently issued reports on D. Royal Bank Of Canada set a $77.00 price objective on shares of Dominion Energy and gave the company a “hold” rating in a report on Saturday, June 3rd. Zacks Investment Research downgraded shares of Dominion Energy from a “hold” rating to a “sell” rating in a report on Monday, June 12th. BidaskClub downgraded shares of Dominion Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Morgan Stanley lowered their target price on shares of Dominion Energy from $81.00 to $79.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Finally, Deutsche Bank AG boosted their target price on shares of Dominion Energy from $76.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Dominion Energy presently has a consensus rating of “Hold” and an average price target of $80.57.

About Dominion Energy

Dominion Energy, Inc, formerly Dominion Resources, Inc, is a producer and transporter of energy. Dominion is focused on its investment in regulated electric generation, transmission and distribution and regulated natural gas transmission and distribution infrastructure. It operates through three segments: Dominion Virginia Power operating segment (DVP), Dominion Generation, Dominion Energy, and Corporate and Other.