Dominion Energy, Inc. (NYSE:D) Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC trimmed its holdings in Dominion Energy, Inc. (NYSE:D) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,430 shares of the utilities provider’s stock after selling 300 shares during the period. Summit Asset Management LLC’s holdings in Dominion Energy were worth $314,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in D. BLB&B Advisors LLC raised its position in shares of Dominion Energy by 2.5% during the 3rd quarter. BLB&B Advisors LLC now owns 7,223 shares of the utilities provider’s stock valued at $417,000 after acquiring an additional 173 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in Dominion Energy by 1.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,909 shares of the utilities provider’s stock worth $535,000 after buying an additional 195 shares during the period. Valley National Advisers Inc. increased its position in Dominion Energy by 8.6% in the second quarter. Valley National Advisers Inc. now owns 2,504 shares of the utilities provider’s stock worth $122,000 after buying an additional 198 shares during the period. Altman Advisors Inc. increased its position in Dominion Energy by 0.7% in the second quarter. Altman Advisors Inc. now owns 29,031 shares of the utilities provider’s stock worth $1,423,000 after buying an additional 198 shares during the period. Finally, Centennial Wealth Advisory LLC increased its position in Dominion Energy by 2.8% in the second quarter. Centennial Wealth Advisory LLC now owns 7,381 shares of the utilities provider’s stock worth $362,000 after buying an additional 199 shares during the period. 73.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

D has been the subject of several recent analyst reports. Barclays increased their price target on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Dominion Energy in a research note on Friday, September 20th. They issued a “hold” rating and a $58.00 price target for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $61.00 target price on shares of Dominion Energy in a research note on Friday, November 8th. BMO Capital Markets raised 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. Finally, Scotiabank upped their target price on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.91.

Dominion Energy Stock Down 0.8 %

Shares of Dominion Energy stock opened at $56.58 on Thursday. The stock has a 50-day moving average price of $58.06 and a 200 day moving average price of $54.50. The company has a market cap of $47.53 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.52 and a beta of 0.59. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Dominion Energy, Inc. has a 1 year low of $43.53 and a 1 year high of $61.97.

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

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.67 annualized dividend and a dividend yield of 4.72%. 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.