FineMark National Bank & Trust Sells 276 Shares of Dominion Energy, Inc. (NYSE:D)

FineMark National Bank & Trust lowered its stake in Dominion Energy, Inc. (NYSE:D) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,444 shares of the utilities provider’s stock after selling 276 shares during the period. FineMark National Bank & Trust’s holdings in Dominion Energy were worth $463,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of Dominion Energy in the second quarter worth about $27,000. Rise Advisors LLC purchased a new stake in Dominion Energy in the 1st quarter worth approximately $30,000. LRI Investments LLC bought a new stake in shares of Dominion Energy in the 1st quarter worth approximately $32,000. Triad Wealth Partners LLC purchased a new position in shares of Dominion Energy during the second quarter valued at approximately $33,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Dominion Energy during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on D shares. JPMorgan Chase & Co. lifted their price target on shares of Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. StockNews.com upgraded shares of Dominion Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. BMO Capital Markets raised their price objective on shares of Dominion Energy from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Scotiabank lifted their price objective on Dominion Energy from $48.00 to $58.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Bank of America raised Dominion Energy from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $43.00 to $54.00 in a research report on Friday, May 10th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Dominion Energy currently has a consensus rating of “Hold” and an average target price of $54.00.

Dominion Energy Stock Performance

Dominion Energy stock opened at $57.14 on Friday. Dominion Energy, Inc. has a twelve month low of $39.18 and a twelve month high of $58.13. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $47.94 billion, a P/E ratio of 29.45, a PEG ratio of 1.54 and a beta of 0.60. The stock’s 50 day moving average is $53.60 and its 200 day moving average is $51.18.

Dominion Energy (NYSE:D) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Dominion Energy had a return on equity of 7.69% and a net margin of 11.63%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts predict that Dominion Energy, Inc. will post 2.75 earnings per share for the current fiscal year.

Dominion Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be issued a $0.6675 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.67 annualized dividend and a yield of 4.67%. Dominion Energy’s dividend payout ratio (DPR) is presently 137.63%.

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.