Birmingham Capital Management Co. Inc. AL Acquires Shares of 3,545 Dominion Energy, Inc. (NYSE:D)

Birmingham Capital Management Co. Inc. AL bought a new stake in Dominion Energy, Inc. (NYSE:D) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 3,545 shares of the utilities provider’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently made changes to their positions in the company. Inspire Trust Co. N.A. raised its stake in Dominion Energy by 10.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 20,470 shares of the utilities provider’s stock valued at $1,183,000 after acquiring an additional 2,000 shares during the period. Old North State Trust LLC purchased a new position in shares of Dominion Energy in the third quarter worth about $236,000. Franklin Resources Inc. raised its position in shares of Dominion Energy by 4.8% in the third quarter. Franklin Resources Inc. now owns 8,718,747 shares of the utilities provider’s stock valued at $496,358,000 after purchasing an additional 398,012 shares during the period. Tidal Investments LLC raised its position in shares of Dominion Energy by 8.2% in the third quarter. Tidal Investments LLC now owns 38,339 shares of the utilities provider’s stock valued at $2,216,000 after purchasing an additional 2,891 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Dominion Energy by 82.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 24,277 shares of the utilities provider’s stock valued at $1,403,000 after buying an additional 11,006 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Price Performance

D remained flat at $53.83 during midday trading on Friday. The company’s stock had a trading volume of 364,623 shares, compared to its average volume of 4,455,103. 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 fifty-two week low of $43.53 and a fifty-two week high of $61.97. The company has a market cap of $45.22 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.45 and a beta of 0.59. The firm has a 50 day moving average price of $57.86 and a two-hundred day moving average price of $55.19.

Dominion Energy (NYSE:D) last issued its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the company posted $0.77 EPS. Dominion Energy’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Dominion Energy, Inc. will post 2.75 EPS for the current year.

Dominion Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, November 29th. Dominion Energy’s payout ratio is 93.68%.

Analyst Upgrades and Downgrades

D has been the topic of several recent research reports. Barclays increased their target price on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. Scotiabank upped their price target on Dominion Energy from $58.00 to $61.00 and gave the company a “sector perform” rating in a research report on Thursday. The Goldman Sachs Group restated a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research report on Friday, November 8th. Finally, Morgan Stanley started coverage on shares of Dominion Energy in a report on Monday, December 2nd. They set an “equal weight” rating and a $61.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.58.

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.