Patten & Patten Inc. TN Has $1.01 Million Stock Holdings in Dominion Energy, Inc. (NYSE:D)

Patten & Patten Inc. TN raised its position in Dominion Energy, Inc. (NYSE:D) by 7.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 17,463 shares of the utilities provider’s stock after purchasing an additional 1,205 shares during the period. Patten & Patten Inc. TN’s holdings in Dominion Energy were worth $1,009,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Wealth Management L.L.C. bought a new stake in Dominion Energy during the 3rd quarter valued at $28,000. Family Firm Inc. bought a new stake in shares of Dominion Energy in the 2nd quarter worth $27,000. LRI Investments LLC bought a new stake in shares of Dominion Energy in the 1st quarter worth $32,000. Reston Wealth Management LLC purchased a new position in shares of Dominion Energy in the 3rd quarter worth about $36,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Dominion Energy in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Dominion Energy Price Performance

D opened at $58.19 on Tuesday. Dominion Energy, Inc. has a 12-month low of $43.53 and a 12-month high of $61.97. The company has a current ratio of 0.74, a quick ratio of 0.78 and a debt-to-equity ratio of 1.42. The business’s fifty day simple moving average is $58.01 and its 200-day simple moving average is $54.40. The company has a market capitalization of $48.88 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.54 and a beta of 0.59.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter last year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Dominion Energy, Inc. will post 2.76 earnings per share for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

Analysts Set New Price Targets

Several equities research analysts have commented on D shares. BMO Capital Markets upped their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Barclays upped their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Scotiabank increased their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.91.

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.