Pinnacle Financial Partners Inc Trims Stake in Dominion Energy, Inc. (NYSE:D)

Pinnacle Financial Partners Inc reduced its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 32.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,125 shares of the utilities provider’s stock after selling 5,231 shares during the period. Pinnacle Financial Partners Inc’s holdings in Dominion Energy were worth $643,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. purchased a new stake in Dominion Energy during the third quarter valued at approximately $28,000. Family Firm Inc. bought a new position in shares of Dominion Energy in the second quarter worth approximately $27,000. LRI Investments LLC bought a new position in shares of Dominion Energy in the first quarter worth approximately $32,000. Reston Wealth Management LLC bought a new position in shares of Dominion Energy in the third quarter worth approximately $36,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Dominion Energy in the second quarter worth approximately $33,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

D has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research report on Friday, November 8th. Scotiabank upped their price target on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their price target on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Jefferies Financial Group began coverage on shares of Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. Finally, Barclays upped their target price 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. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.91.

Dominion Energy Price Performance

D stock opened at $56.18 on Friday. Dominion Energy, Inc. has a 52 week low of $43.53 and a 52 week high of $61.97. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $58.05 and a two-hundred day simple moving average of $54.52. The firm has a market capitalization of $47.19 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.51 and a beta of 0.59.

Dominion Energy (NYSE:D) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the business earned $0.77 earnings per share. Dominion Energy’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Dominion Energy, Inc. will post 2.76 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.75%. Dominion Energy’s dividend payout ratio (DPR) is currently 93.68%.

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.