General American Investors Co. Inc. Sells 145,000 Shares of Dominion Energy Inc. $D

General American Investors Co. Inc. lessened its position in Dominion Energy Inc. (NYSE:D) by 50.0% in the third quarter, HoldingsChannel reports. The fund owned 145,000 shares of the utilities provider’s stock after selling 145,000 shares during the quarter. General American Investors Co. Inc.’s holdings in Dominion Energy were worth $8,775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hughes Financial Services LLC lifted its holdings in shares of Dominion Energy by 1.5% in the 3rd quarter. Hughes Financial Services LLC now owns 10,225 shares of the utilities provider’s stock worth $666,000 after purchasing an additional 154 shares in the last quarter. Cornerstone Planning LLC increased its stake in Dominion Energy by 0.9% during the 2nd quarter. Cornerstone Planning LLC now owns 17,280 shares of the utilities provider’s stock valued at $1,180,000 after purchasing an additional 157 shares in the last quarter. Arlington Trust Co LLC increased its stake in Dominion Energy by 47.1% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 160 shares in the last quarter. Premier Path Wealth Partners LLC raised its holdings in Dominion Energy by 1.7% during the second quarter. Premier Path Wealth Partners LLC now owns 9,795 shares of the utilities provider’s stock worth $669,000 after buying an additional 168 shares during the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC raised its holdings in Dominion Energy by 1.6% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 11,334 shares of the utilities provider’s stock worth $686,000 after buying an additional 183 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

Key Stories Impacting Dominion Energy

Here are the key news stories impacting Dominion Energy this week:

• Positive Sentiment: Dominion and NextEra have offered additional customer protections as Virginia’s review advances. The concessions could help move the merger forward, though approval is not assured. NextEra, Dominion strengthen proposed merger with additional customer protections
• Positive Sentiment: Loudoun County approved a Dominion substation despite lingering concerns, supporting the company’s ability to expand infrastructure for growing electricity demand, including from data centers. Loudoun approves Dominion substation despite lingering concerns
• Positive Sentiment: Recent offshore-wind progress and increased contracted data-center capacity could support future earnings and cash flows. Dominion’s strong three-year share-price performance, however, raises the bar for continued earnings growth. Dominion Energy (D) Stock Looks In Line Following Offshore Wind Progress
• Neutral Sentiment: Public hearings on the merger are underway, with debate focused on customer costs and protections. The outcome may affect both the transaction’s prospects and the regulatory framework for utilities serving fast-growing power demand. Packed SCC hearing draws strong opinions over proposed Energy merger
• Negative Sentiment: Dominion and NextEra accepted some proposed merger protections but rejected a rate and staffing freeze. That stance could fuel opposition and leave uncertainty over whether regulators will approve the deal and on what terms. Dominion-NextEra accept some proposed protections in Va. merger case, rejects rate and staffing freeze
• Negative Sentiment: Families are pushing back against a proposed Dominion transmission-line project, creating potential permitting or construction delays for planned infrastructure. Families push back against proposed Dominion Energy Transmission Line Project

Dominion Energy Stock Down 1.5%

NYSE:D traded down $1.06 during trading hours on Friday, hitting $68.58. 3,569,861 shares of the company traded hands, compared to its average volume of 4,398,178. The company has a quick ratio of 0.64, a current ratio of 0.88 and a debt-to-equity ratio of 1.46. The company has a market cap of $60.32 billion, a PE ratio of 22.78, a PEG ratio of 3.14 and a beta of 0.62. The firm’s 50-day simple moving average is $63.95 and its 200-day simple moving average is $64.98. Dominion Energy Inc. has a one year low of $55.85 and a one year high of $72.99.

Dominion Energy (NYSE:D) last posted its earnings results on Friday, October 30th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.07. The firm had revenue of $5.62 billion during the quarter, compared to analyst estimates of $4.90 billion. Dominion Energy had a net margin of 13.99% and a return on equity of 10.09%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 EPS. Equities analysts predict that Dominion Energy Inc. will post 3.59 earnings per share for the current year.

Dominion Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 20th. Shareholders of record on Friday, December 4th will be given a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 4th. Dominion Energy’s dividend payout ratio is presently 88.70%.

Wall Street Analysts Forecast Growth

D has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Dominion Energy from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 19th. BMO Capital Markets upped their target price on shares of Dominion Energy from $64.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Scotiabank dropped their price target on shares of Dominion Energy from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 30th. Wells Fargo & Company upgraded Dominion Energy to a “strong-buy” rating in a research note on Thursday, September 24th. Finally, Weiss Ratings raised Dominion Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $69.33.

Dominion Energy Profile

Dominion Energy, Inc (NYSE: D) is an energy company focused primarily on regulated electric and natural gas utility services. Its businesses generate, transmit and distribute electricity and deliver natural gas to residential, commercial and industrial customers.

The company’s electric utility operations serve customers in Virginia and northeastern North Carolina, as well as parts of South Carolina through Dominion Energy South Carolina. Its power portfolio includes nuclear, natural gas, solar and other energy sources.

Dominion traces its roots to 1909 and adopted the Dominion Energy name in 2017.