Grimes & Company Inc. Lowers Position in Dominion Energy, Inc. (NYSE:D)

Grimes & Company Inc. cut its holdings in shares of Dominion Energy, Inc. (NYSE:D) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,658 shares of the utilities provider’s stock after selling 252 shares during the quarter. Grimes & Company Inc.’s holdings in Dominion Energy were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in shares of Dominion Energy by 3.2% during the 3rd quarter. State Street Corp now owns 44,297,832 shares of the utilities provider’s stock worth $2,559,972,000 after purchasing an additional 1,365,555 shares during the period. JPMorgan Chase & Co. boosted its holdings in Dominion Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,620,242 shares of the utilities provider’s stock valued at $1,653,964,000 after acquiring an additional 1,222,688 shares during the period. Geode Capital Management LLC boosted its holdings in Dominion Energy by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,875,221 shares of the utilities provider’s stock valued at $1,032,941,000 after acquiring an additional 367,193 shares during the period. Franklin Resources Inc. boosted its holdings in Dominion Energy by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock valued at $496,358,000 after acquiring an additional 398,012 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in Dominion Energy by 63.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,436,875 shares of the utilities provider’s stock valued at $487,567,000 after acquiring an additional 3,278,175 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Price Performance

Shares of NYSE D opened at $53.48 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.74. 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 $44.93 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.15 and a beta of 0.60. The stock’s 50-day simple moving average is $55.20 and its 200-day simple moving average is $55.89.

Dominion Energy (NYSE:D) last issued its 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 for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the company earned $0.77 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Friday, November 29th. Dominion Energy’s dividend payout ratio (DPR) is presently 93.68%.

Analysts Set New Price Targets

D has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Dominion Energy in a report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 target price for the company. Barclays raised their target price on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Scotiabank raised their target price on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a research report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Dominion Energy has a consensus rating of “Hold” and an average price target of $56.58.

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.