Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Dominion Energy Inc. (NYSE:D – Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,909,816 shares of the utilities provider’s stock after selling 48,014 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Dominion Energy worth $115,582,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Dominion Energy in the third quarter worth about $14,500,000. Vise Technologies Inc. lifted its position in shares of Dominion Energy by 8.9% during the 3rd quarter. Vise Technologies Inc. now owns 48,343 shares of the utilities provider’s stock worth $2,926,000 after purchasing an additional 3,958 shares during the last quarter. Investment Partners LTD. acquired a new position in shares of Dominion Energy during the 3rd quarter worth about $279,000. Cidel Asset Management Inc. boosted its stake in Dominion Energy by 2.9% during the 3rd quarter. Cidel Asset Management Inc. now owns 9,522 shares of the utilities provider’s stock valued at $576,000 after purchasing an additional 264 shares during the period. Finally, Moss Adams Wealth Advisors LLC boosted its stake in Dominion Energy by 114.3% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 6,490 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 3,461 shares during the period. 73.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have issued reports on D shares. Truist Financial lowered their target price on Dominion Energy from $66.00 to $62.00 and set a “hold” rating on the stock in a report on Monday, October 12th. Barclays cut their price target on Dominion Energy from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Morgan Stanley reduced their price objective on Dominion Energy from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Friday, September 18th. Evercore raised their price objective on shares of Dominion Energy from $67.00 to $70.00 in a research note on Thursday, October 8th. Finally, Wells Fargo & Company raised shares of Dominion Energy to a “strong-buy” rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.33.
Read Our Latest Stock Report on D
Dominion Energy Price Performance
Shares of NYSE:D opened at $67.83 on Tuesday. The firm has a market capitalization of $59.66 billion, a PE ratio of 22.53, a PEG ratio of 2.98 and a beta of 0.64. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.43. Dominion Energy Inc. has a 1-year low of $55.85 and a 1-year high of $72.99. The business’s 50 day moving average is $63.80 and its 200-day moving average is $64.82.
Dominion Energy (NYSE:D – Get Free Report) last issued its earnings results on Friday, October 30th. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The business had revenue of $5.62 billion during the quarter, compared to analyst estimates of $4.90 billion. Dominion Energy had a return on equity of 9.62% and a net margin of 13.98%. Dominion Energy’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 earnings per share. Sell-side analysts predict that Dominion Energy Inc. will post 3.59 earnings per share for the current year.
Dominion Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 20th. Shareholders of record on Friday, December 4th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 4th. Dominion Energy’s payout ratio is 88.70%.
Dominion Energy Company Profile
Dominion Energy, Inc is a regulated energy company headquartered in Richmond, Virginia. Through its utility operations, the company generates, transmits and distributes electricity and provides natural gas distribution services to residential, commercial, industrial and governmental customers, primarily in Virginia and South Carolina.
The company operates a diversified power-generation portfolio that includes nuclear, natural gas, renewable energy and other resources. Its activities also include electricity transmission infrastructure, renewable energy development and natural gas utility operations.
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