WEALTHFRONT Corp cut its stake in Dominion Energy Inc (NYSE:D) by 9.1% in the third quarter, Holdings Channel reports. The institutional investor owned 32,963 shares of the utilities provider’s stock after selling 3,289 shares during the period. WEALTHFRONT Corp’s holdings in Dominion Energy were worth $2,317,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in Dominion Energy by 0.8% in the third quarter. BlackRock Inc. now owns 46,177,530 shares of the utilities provider’s stock worth $3,245,357,000 after purchasing an additional 345,036 shares during the period. Commonwealth Bank of Australia increased its stake in Dominion Energy by 40.5% in the second quarter. Commonwealth Bank of Australia now owns 8,028,891 shares of the utilities provider’s stock worth $549,725,000 after purchasing an additional 2,316,005 shares during the period. Bank of New York Mellon Corp increased its stake in Dominion Energy by 29.9% in the third quarter. Bank of New York Mellon Corp now owns 6,146,819 shares of the utilities provider’s stock worth $431,998,000 after purchasing an additional 1,413,097 shares during the period. Legal & General Group Plc increased its stake in Dominion Energy by 0.8% in the second quarter. Legal & General Group Plc now owns 4,551,354 shares of the utilities provider’s stock worth $310,311,000 after purchasing an additional 34,408 shares during the period. Finally, FMR LLC increased its stake in Dominion Energy by 8.2% in the third quarter. FMR LLC now owns 4,189,492 shares of the utilities provider’s stock worth $294,438,000 after purchasing an additional 319,075 shares during the period. Institutional investors own 67.16% of the company’s stock.
D opened at $74.11 on Thursday. Dominion Energy Inc has a 1 year low of $61.53 and a 1 year high of $85.30. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.62. The stock has a market capitalization of $49.34 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 3.06 and a beta of 0.18.
Dominion Energy (NYSE:D) last posted its earnings results on Thursday, November 1st. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. Dominion Energy had a return on equity of 13.24% and a net margin of 24.63%. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Dominion Energy Inc will post 4.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be paid a $0.835 dividend. The ex-dividend date is Thursday, December 6th. This represents a $3.34 annualized dividend and a yield of 4.51%. Dominion Energy’s dividend payout ratio (DPR) is presently 92.78%.
D has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Dominion Energy from $78.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Zacks Investment Research upgraded Dominion Energy from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, October 22nd. Barclays initiated coverage on Dominion Energy in a research note on Monday, October 22nd. They set a “buy” rating and a $78.00 price target on the stock. Argus raised their price target on Dominion Energy from $74.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Finally, Macquarie set a $74.00 price target on Dominion Energy and gave the company a “buy” rating in a research note on Tuesday, September 25th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.58.
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About Dominion Energy
Dominion Energy, Inc produces and transports energy in the United States. The company's Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities through gas, coal, nuclear, oil, renewables, biomass, hydro, solar, and power purchase agreements; and related energy supply operations.
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