Richardson Financial Services Inc. Has $154,000 Stock Position in Dominion Energy, Inc. (NYSE:D)

Richardson Financial Services Inc. cut its stake in Dominion Energy, Inc. (NYSE:D) by 8.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,855 shares of the utilities provider’s stock after selling 265 shares during the quarter. Richardson Financial Services Inc.’s holdings in Dominion Energy were worth $154,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Wealth Management L.L.C. bought a new stake in Dominion Energy during the 3rd quarter worth approximately $28,000. Roble Belko & Company Inc acquired a new position in Dominion Energy in the fourth quarter worth $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Dominion Energy during the third quarter worth $32,000. Dunhill Financial LLC increased its stake in shares of Dominion Energy by 601.2% in the third quarter. Dunhill Financial LLC now owns 568 shares of the utilities provider’s stock valued at $33,000 after buying an additional 487 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in Dominion Energy by 282.4% during the 3rd quarter. Larson Financial Group LLC now owns 608 shares of the utilities provider’s stock worth $35,000 after buying an additional 449 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays raised their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Morgan Stanley assumed coverage on shares of Dominion Energy in a research report on Monday, December 2nd. They issued an “equal weight” rating and a $61.00 price objective for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research report on Friday, November 8th. Finally, Scotiabank boosted their target price on Dominion Energy from $58.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Dominion Energy presently has a consensus rating of “Hold” and a consensus target price of $56.58.

Dominion Energy Stock Performance

Shares of NYSE:D opened at $55.47 on Monday. The firm’s 50 day simple moving average is $54.96 and its 200 day simple moving average is $56.09. Dominion Energy, Inc. has a fifty-two week low of $43.53 and a fifty-two week high of $61.97. The company has a market capitalization of $46.60 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 1.20 and a beta of 0.60. 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 posted 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 net margin of 16.95% and a return on equity of 8.35%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Dominion Energy, Inc. will post 2.75 earnings per share for the current year.

Dominion Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.67 dividend on an annualized basis and a yield of 4.81%. Dominion Energy’s payout ratio is 93.68%.

About Dominion Energy

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.