Chevy Chase Trust Holdings LLC Decreases Holdings in Dominion Energy, Inc. (NYSE:D)

Chevy Chase Trust Holdings LLC cut its stake in shares of Dominion Energy, Inc. (NYSE:D) by 1.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 453,662 shares of the utilities provider’s stock after selling 6,501 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Dominion Energy were worth $26,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in D. Beck Capital Management LLC grew its position in shares of Dominion Energy by 1.7% during the 3rd quarter. Beck Capital Management LLC now owns 44,462 shares of the utilities provider’s stock valued at $2,569,000 after acquiring an additional 728 shares during the period. Benjamin Edwards Inc. grew its position in shares of Dominion Energy by 4,587.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 15,468 shares of the utilities provider’s stock valued at $894,000 after acquiring an additional 15,138 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Dominion Energy during the 3rd quarter valued at $235,000. True Wealth Design LLC grew its position in shares of Dominion Energy by 8,138.5% during the 3rd quarter. True Wealth Design LLC now owns 1,071 shares of the utilities provider’s stock valued at $62,000 after acquiring an additional 1,058 shares during the period. Finally, Morton Community Bank grew its position in shares of Dominion Energy by 5.5% during the 3rd quarter. Morton Community Bank now owns 46,605 shares of the utilities provider’s stock valued at $2,693,000 after acquiring an additional 2,427 shares during the period. 73.04% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Energy Stock Performance

Dominion Energy stock opened at $57.35 on Tuesday. 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, Inc. has a 1-year low of $43.53 and a 1-year high of $61.97. The firm has a market capitalization of $48.17 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.56 and a beta of 0.59. The company’s 50-day moving average is $58.19 and its 200 day moving average is $55.06.

Dominion Energy (NYSE:D) last issued its earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.18 billion. Dominion Energy had a net margin of 16.95% and a return on equity of 8.35%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. Research analysts forecast that Dominion Energy, Inc. will post 2.76 EPS for the current year.

Dominion Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a $0.6675 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.66%. Dominion Energy’s dividend payout ratio is currently 93.68%.

Analyst Upgrades and Downgrades

D has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price 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. Jefferies Financial Group began coverage on shares of Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 price objective for the company. Barclays increased their price objective on shares of Dominion Energy from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. 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 company a “market perform” rating in a report on Monday, August 5th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and an average target price of $56.33.

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.