Dominion Energy, Inc. (NYSE:D) Shares Sold by Arrow Financial Corp

Arrow Financial Corp lowered its position in shares of Dominion Energy, Inc. (NYSE:D) by 31.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 16,292 shares of the utilities provider’s stock after selling 7,475 shares during the quarter. Arrow Financial Corp’s holdings in Dominion Energy were worth $942,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in D. Fee Only Financial Planning L.C. acquired a new stake in shares of Dominion Energy during the third quarter worth about $235,000. Essex Savings Bank raised its position in Dominion Energy by 11.9% during the 3rd quarter. Essex Savings Bank now owns 4,705 shares of the utilities provider’s stock worth $272,000 after buying an additional 500 shares during the last quarter. Bridges Investment Management Inc. acquired a new stake in Dominion Energy during the 3rd quarter valued at approximately $213,000. Assetmark Inc. boosted its holdings in shares of Dominion Energy by 29.9% in the 3rd quarter. Assetmark Inc. now owns 28,792 shares of the utilities provider’s stock valued at $1,664,000 after acquiring an additional 6,634 shares during the last quarter. Finally, Carson Advisory Inc. increased its stake in shares of Dominion Energy by 1.3% in the third quarter. Carson Advisory Inc. now owns 68,737 shares of the utilities provider’s stock worth $3,972,000 after acquiring an additional 898 shares during the period. Hedge funds and other institutional investors own 73.04% of the company’s stock.

Dominion Energy Price Performance

Shares of Dominion Energy stock opened at $57.79 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.74 and a quick ratio of 0.78. The business has a 50 day simple moving average of $58.01 and a two-hundred day simple moving average of $54.36. The stock has a market capitalization of $48.54 billion, a P/E ratio of 20.28, a PEG ratio of 1.54 and a beta of 0.59. Dominion Energy, Inc. has a 12 month low of $43.53 and a 12 month high of $61.97.

Dominion Energy (NYSE:D) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Dominion Energy had a return on equity of 8.35% and a net margin of 16.95%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts predict that Dominion Energy, Inc. will post 2.76 EPS for the current fiscal year.

Dominion Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a dividend of $0.6675 per share. The ex-dividend date is Friday, November 29th. This represents a $2.67 dividend on an annualized basis and a yield of 4.62%. Dominion Energy’s payout ratio is presently 93.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on D shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $61.00 price target on shares of Dominion Energy in a report on Friday. Jefferies Financial Group began coverage on Dominion Energy in a report on Friday, September 20th. They set a “hold” rating and a $58.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Dominion Energy from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Scotiabank raised their price objective on shares of Dominion Energy from $48.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets boosted their target price on shares of Dominion Energy from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.91.

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.