The Manufacturers Life Insurance Company Trims Stake in Dominion Energy, Inc. (NYSE:D)

The Manufacturers Life Insurance Company decreased its position in shares of Dominion Energy, Inc. (NYSE:D) by 1.9% during the third quarter, Holdings Channel reports. The fund owned 1,437,080 shares of the utilities provider’s stock after selling 27,723 shares during the period. The Manufacturers Life Insurance Company’s holdings in Dominion Energy were worth $83,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in shares of Dominion Energy in the 2nd quarter worth approximately $27,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Dominion Energy in the 3rd quarter worth approximately $28,000. LRI Investments LLC purchased a new stake in shares of Dominion Energy in the 1st quarter worth approximately $30,000. Frazier Financial Advisors LLC purchased a new stake in shares of Dominion Energy in the 3rd quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Dominion Energy in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Trading Up 1.0 %

Shares of Dominion Energy stock opened at $59.71 on Thursday. The firm has a market cap of $50.16 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.56 and a beta of 0.59. The business has a 50-day moving average price of $58.13 and a 200-day moving average price of $54.96. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a twelve month low of $43.53 and a twelve month high of $61.97.

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

Dominion Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given 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 is currently 93.68%.

Analyst Upgrades and Downgrades

Several analysts have commented on D shares. Scotiabank increased their target price on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group reiterated a “neutral” rating and set a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their target price on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Barclays increased their target price on Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets increased their target price on Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.