Verdence Capital Advisors LLC Sells 10,427 Shares of Dominion Energy, Inc. (NYSE:D)

Verdence Capital Advisors LLC cut its stake in Dominion Energy, Inc. (NYSE:D) by 44.6% in the third quarter, Holdings Channel reports. The institutional investor owned 12,950 shares of the utilities provider’s stock after selling 10,427 shares during the period. Verdence Capital Advisors LLC’s holdings in Dominion Energy were worth $748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Dominion Energy by 16.0% during the 1st quarter. Vanguard Group Inc. now owns 88,355,205 shares of the utilities provider’s stock worth $4,346,193,000 after acquiring an additional 12,178,713 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Dominion Energy by 20.1% during the first quarter. Capital Research Global Investors now owns 21,584,470 shares of the utilities provider’s stock worth $1,061,740,000 after purchasing an additional 3,613,614 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Dominion Energy by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,494,873 shares of the utilities provider’s stock valued at $1,204,904,000 after purchasing an additional 2,801,687 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Dominion Energy by 7,438.3% in the third quarter. International Assets Investment Management LLC now owns 1,483,538 shares of the utilities provider’s stock worth $85,734,000 after purchasing an additional 1,463,858 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Dominion Energy in the 2nd quarter worth about $67,854,000. 73.04% of the stock is owned by hedge funds and other institutional investors.

Dominion Energy Trading Up 2.0 %

Shares of NYSE D opened at $57.79 on Monday. Dominion Energy, Inc. has a 1-year low of $43.53 and a 1-year high of $61.97. The business has a fifty day moving average price of $58.01 and a 200 day moving average price of $54.38. The stock has a market capitalization of $48.54 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 1.54 and a beta of 0.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.78.

Dominion Energy (NYSE:D) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.98 EPS for the quarter, beating 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 business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research 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. Shareholders of record on Friday, November 29th will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 4.62%. The ex-dividend date is Friday, November 29th. Dominion Energy’s dividend payout ratio is currently 93.68%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on D. The Goldman Sachs Group reissued a “neutral” rating and issued a $61.00 price objective on shares of Dominion Energy in a research report on Friday. BMO Capital Markets increased their price objective on Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Jefferies Financial Group assumed coverage on Dominion Energy in a research report on Friday, September 20th. They set a “hold” rating and a $58.00 target price for the company. Barclays increased their price target on Dominion Energy from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Scotiabank lifted their price objective 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Dominion Energy presently has a consensus rating of “Hold” and an average target price of $55.91.

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.