Cadence Bank Sells 61,698 Shares of Dominion Energy, Inc. (NYSE:D)

Cadence Bank decreased its position in Dominion Energy, Inc. (NYSE:D) by 86.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,372 shares of the utilities provider’s stock after selling 61,698 shares during the quarter. Cadence Bank’s holdings in Dominion Energy were worth $542,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of Dominion Energy by 16.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,408,495 shares of the utilities provider’s stock worth $81,397,000 after purchasing an additional 193,915 shares during the last quarter. Avestar Capital LLC bought a new stake in shares of Dominion Energy in the 3rd quarter worth about $224,000. Brooklyn Investment Group bought a new stake in shares of Dominion Energy in the 3rd quarter worth about $574,000. Quantbot Technologies LP grew its holdings in shares of Dominion Energy by 0.8% in the 3rd quarter. Quantbot Technologies LP now owns 34,072 shares of the utilities provider’s stock worth $1,969,000 after purchasing an additional 283 shares during the last quarter. Finally, FMR LLC grew its holdings in Dominion Energy by 20.5% during the 3rd quarter. FMR LLC now owns 3,800,024 shares of the utilities provider’s stock worth $219,603,000 after acquiring an additional 647,725 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Dominion Energy Trading Up 1.0 %

Shares of NYSE D opened at $59.71 on Thursday. The company’s 50 day simple moving average is $58.13 and its 200 day simple moving average is $54.96. Dominion Energy, Inc. has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The firm has a market capitalization of $50.16 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.56 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.58.

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

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 annualized dividend and a yield of 4.47%. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

Analysts Set New Price Targets

A number of equities research analysts have commented on D shares. Jefferies Financial Group started coverage on shares of Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 price objective on the stock. Barclays increased their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of Dominion Energy from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $61.00 price objective on shares of Dominion Energy in a report on Friday, November 8th. Finally, BMO Capital Markets increased their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Ten 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, the stock currently has an average rating of “Hold” and an average price target of $55.91.

Dominion Energy Company 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.