Pictet Asset Management Holding SA Cuts Stock Position in Dominion Energy, Inc. (NYSE:D)

Pictet Asset Management Holding SA trimmed its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 6.3% in the fourth quarter, Holdings Channel reports. The firm owned 2,193,746 shares of the utilities provider’s stock after selling 146,925 shares during the period. Pictet Asset Management Holding SA’s holdings in Dominion Energy were worth $118,155,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in D. Vanguard Group Inc. raised its stake in shares of Dominion Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 89,513,956 shares of the utilities provider’s stock valued at $4,821,222,000 after purchasing an additional 674,859 shares during the period. State Street Corp grew its holdings 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 valued at $2,559,972,000 after purchasing an additional 1,365,555 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Dominion Energy by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock worth $1,653,964,000 after buying an additional 1,222,688 shares in the last quarter. Geode Capital Management LLC boosted its position in Dominion Energy by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock valued at $1,032,941,000 after buying an additional 367,193 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Dominion Energy by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 14,938,848 shares of the utilities provider’s stock valued at $804,606,000 after acquiring an additional 1,068,996 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors and hedge funds.

Dominion Energy Trading Up 0.9 %

Shares of NYSE D opened at $54.98 on Friday. The company has a market cap of $46.85 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. The stock’s 50 day simple moving average is $55.17 and its 200 day simple moving average is $56.19. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 12-month low of $46.62 and a 12-month high of $61.97.

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

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were paid a $0.6675 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.67 annualized dividend and a dividend yield of 4.86%. Dominion Energy’s payout ratio is currently 98.89%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Dominion Energy from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. UBS Group increased their target price on Dominion Energy from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Argus raised shares of Dominion Energy to a “hold” rating in a research report on Tuesday. Morgan Stanley upped their price target on shares of Dominion Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Finally, 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 report on Thursday, December 12th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $57.58.

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.