Park Place Capital Corp Lowers Holdings in Dominion Energy, Inc. (NYSE:D)

Park Place Capital Corp reduced its stake in shares of Dominion Energy, Inc. (NYSE:D) by 11.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,006 shares of the utilities provider’s stock after selling 1,700 shares during the quarter. Park Place Capital Corp’s holdings in Dominion Energy were worth $640,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new stake in shares of Dominion Energy during the 4th quarter worth $29,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Dominion Energy during the 4th quarter worth $30,000. Rise Advisors LLC purchased a new stake in shares of Dominion Energy during the 1st quarter worth $30,000. Venturi Wealth Management LLC lifted its stake in shares of Dominion Energy by 84.5% during the 4th quarter. Venturi Wealth Management LLC now owns 677 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 310 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its stake in shares of Dominion Energy by 20,100.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 808 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 804 shares during the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Stock Performance

D stock traded down $1.00 during trading on Monday, hitting $48.00. 3,524,306 shares of the company traded hands, compared to its average volume of 4,904,031. The stock’s 50-day simple moving average is $51.64 and its 200 day simple moving average is $48.73. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.94. The company has a market cap of $40.20 billion, a PE ratio of 24.78, a P/E/G ratio of 1.31 and a beta of 0.59. Dominion Energy, Inc. has a 1 year low of $39.18 and a 1 year high of $54.74.

Dominion Energy (NYSE:D) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Dominion Energy had a return on equity of 7.50% and a net margin of 11.57%. Dominion Energy’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the business earned $0.99 earnings per share. On average, equities analysts expect that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 5.56%. The ex-dividend date was Friday, May 31st. Dominion Energy’s dividend payout ratio is currently 137.63%.

Wall Street Analyst Weigh In

D has been the topic of several recent analyst reports. Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and upped their target price for the company from $43.00 to $54.00 in a research report on Friday, May 10th. StockNews.com raised Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Guggenheim reduced their target price on Dominion Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Scotiabank reduced their target price on Dominion Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Barclays reduced their target price on Dominion Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and a consensus target price of $51.73.

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.