Sandy Spring Bank increased its stake in Dominion Energy, Inc. (NYSE:D) by 17.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,723 shares of the utilities provider’s stock after purchasing an additional 6,154 shares during the quarter. Sandy Spring Bank’s holdings in Dominion Energy were worth $3,293,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in D. Vanguard Group Inc. grew its position in shares of Dominion Energy by 0.8% during the second quarter. Vanguard Group Inc. now owns 71,089,568 shares of the utilities provider’s stock valued at $5,771,051,000 after purchasing an additional 541,649 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Dominion Energy by 97.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,216,262 shares of the utilities provider’s stock valued at $585,817,000 after purchasing an additional 3,565,738 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Dominion Energy by 2.0% during the third quarter. California Public Employees Retirement System now owns 5,540,592 shares of the utilities provider’s stock valued at $437,319,000 after purchasing an additional 106,400 shares in the last quarter. Swiss National Bank grew its position in shares of Dominion Energy by 2.1% during the second quarter. Swiss National Bank now owns 3,991,636 shares of the utilities provider’s stock valued at $324,041,000 after purchasing an additional 82,300 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Dominion Energy by 1.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,745,871 shares of the utilities provider’s stock valued at $304,090,000 after purchasing an additional 50,358 shares in the last quarter. 66.53% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on D shares. BMO Capital Markets upgraded Dominion Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $86.00 to $88.00 in a research report on Monday, November 2nd. Credit Suisse Group lifted their price target on Dominion Energy from $77.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Argus lowered Dominion Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. KeyCorp lowered Dominion Energy to a “hold” rating in a research report on Monday, August 17th. Finally, JPMorgan Chase & Co. upgraded Dominion Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $82.00 to $84.00 in a research report on Tuesday, September 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Dominion Energy has a consensus rating of “Hold” and an average target price of $83.18.
In related news, Chairman Thomas F. Farrell II sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $80.28, for a total value of $4,014,000.00. Following the completion of the transaction, the chairman now owns 1,038,262 shares of the company’s stock, valued at $83,351,673.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 150,000 shares of company stock valued at $12,120,000 in the last ninety days. Insiders own 0.26% of the company’s stock.
Shares of NYSE:D traded down $0.39 during trading hours on Tuesday, hitting $85.68. 37,111 shares of the company’s stock traded hands, compared to its average volume of 3,985,708. Dominion Energy, Inc. has a 1 year low of $57.79 and a 1 year high of $90.89. The business has a fifty day moving average price of $81.56 and a 200-day moving average price of $80.24. The firm has a market capitalization of $70.22 billion, a P/E ratio of -4,303.50, a price-to-earnings-growth ratio of 6.36 and a beta of 0.37. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.64 and a quick ratio of 0.46.
Dominion Energy (NYSE:D) last posted its quarterly earnings results on Thursday, November 5th. The utilities provider reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.08. Dominion Energy had a net margin of 3.77% and a return on equity of 12.09%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. As a group, equities analysts predict that Dominion Energy, Inc. will post 3.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 20th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, December 3rd. Dominion Energy’s dividend payout ratio is presently 88.68%.
Dominion Energy Company Profile
Dominion Energy, Inc produces and transports energy. The company's Dominion Energy Virginia segment engages in the regulated electric generation, transmission, and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Gas Transmission & Storage segment operates interstate natural gas transmission pipelines and underground storage systems, as well as engages in nonregulated retail natural gas marketing, and development of renewable natural gas and LNG infrastructure.
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